PPHE Hotel Group to offer staff discounted rents after buying London apartments
Reasonable rents could prove an irresistible benefit for hotel staff.
The owner of Park Plaza UK hotels is now making the first of potentially many apartment block purchases, planning to offer staff discounted rents.
The owner of Park Plaza UK hotels has made the first of potentially many apartment block purchases in London, aiming to offer staff there heavily discounted rates on housing.
This move ties into the ongoing issue of Britain leaving the European Union. In fact, in recent interviews, the company’s leadership has pointed out that there could be a coming exodus of its European staffers once Britain leaves the EU.
PPHE Hotel Group’s finance chief Daniel Kos said: “We are aware there could be an exodus of European staff once Britain leaves the EU, so we are trying to think of ways to attract and retain hospitality workers One method is by providing cheap rents for nice accommodation.”
Discounted housing rates: a rare find in London
The discounted housing rates for staff is certainly a novel approach here.
To accomplish it, the firm acquired property in Chiswick that has room for roughly 30 people, all of whom will commute to PPHE’s South bank hotels.
As this program gets underway, the company is also eyeing more new digs for London staff. Part of the reason PPHE can do this is that 2019 is shaping up to be a major success for the company.
PPHE’s comparable revenue per room rose by 7.5% to £93.04 in the first half of the year. On a like-for-like basis, total revenue increased by 6.3% to £155.2 million.
The firm, which has a £1.7 billion property portfolio, expects the full-year performance to be in line with previous forecasts.
Lets take a look at a few more upcoming hotel projects in London:
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