Park Plaza operator PPHE looks forward to strong trading when hotels reopen
Hotel chain PPHE, which operates the Park Plaza brand, said it expects demand to bounce back when restrictions on tourism are lifted.
The firm said total revenue in the first three months of 2021 had plummeted 89.6 per cent to £5.3m, due to the ongoing impact of coronavirus restrictions.
However PPHE said it had been “encouraged by the early consumer demand for its outdoor hospitality offerings at some of its hotels and the increased levels of enquiries and bookings generally across both leisure and meeting segments”.
The hotel group said that there had been “strong demand” from leisure guests when lockdowns were eased last summer, resulting in “market outperformance” at its flagship London and Amsterdam venues.
“The group anticipates a similar rapid return of domestic and international demand as travel restrictions are eased and hospitality reopens across its operating markets,” PPHE said.
Chief executive Boris Ivesha said: “The first quarter results of the financial year were in line with the Board’s expectations, with performance subdued due to property closures and restricted capacities and against a strong year-on-year comparative.
“We look forward to the anticipated reopening of our properties in England from 17 May and cannot wait to welcome back our guests to our hotels.
“As restrictions are eased across our other operating markets in Europe, we will capitalise on consumer demand and other potential opportunities, underpinned by our strong track record, well-invested properties, and unique approach to drive long-term success.”