European hotel owner and operator PPHE has secured consent for a new hotel development in central London. It will build a 186 room hotel in a 15 storey block on a site in Waterloo.
The company has promised a lifestyle hotel format for the property, which will be PPHE’s fifth in the district, joining established hotels including Park Plaza County Hall, Park Plaza Westminster Bridge and Park Plaza Riverbank. Having purchased the brownfield site for GBP12m in 2019, it has battled local planners to win approval.
Growing a European portfolio
PPHE combines a substantial presence in London with a growing portfolio across Europe. And it is keeping up the pace of openings, supported by an investment fund with financial partners committed to growing their backing for the hotel sector.
Existing properties are performing strongly, with the group delivering revenues of GBP77m in the first quarter of 2024, up 11.9% on the previous year. Occupancy improved to an average across the portfolio of 71.3%.
The company works with long term partner, Radisson Hotel Group, helping to build their joint brands across key European markets. PPHE has a licence to develop and operate Park Plaza branded hotels and resorts across Europe, the Middle East and Africa; while PPHE itself owns the art’otel brand. It also has a subsidiary business based out of Croatia, which operates hotels and campsites under the Arena brand.
The newly approved London development, along with other pipeline projects, will take PPHE’s London portfolio to 3,900 rooms. Other schemes planned in and around the UK capital include the creation of a new underground hotel in Victoria, and a development site alongside the Park Plaza Park Royal, to the west of the city. The underground hotel, one of a growing number of subterranean hotel projects in London, will be created from space beneath the group’s existing Park Plaza Victoria hotel, and will have 179 rooms. Having already won planning approval, it is in line for construction to proceed over coming months.
Building the art’otel brand
Recently, the group opened its newest UK hotel, the art’otel London Hoxton. Developed by the group, this landmark property in the east of the capital is the second London hotel to feature the brand, joining an art’otel in Battersea. It features its own art gallery, and a 25th floor restaurant, and has 357 bedrooms.
Across mainland Europe, PPHE is also growing its portfolio actively. In October 2023, it opened art’otel Zagreb in Croatia, and followed that with the launch of the Radisson Red in Belgrade, Serbia in February 2024.
The group has a number of hotel developments in various stages of completion. These include the Radisson Red Berlin Kudamm, a 133 room hotel nearing completion in mid 2024; and the 99 room art’otel Rome.
