PPHE Hotel Group Limited Board Change (7438T)
October 16 2017 - 11:36AM
UK Regulatory
TIDMPPH
RNS Number : 7438T
PPHE Hotel Group Limited
16 October 2017
PPHE Hotel Group Limited
("PPHE Hotel Group" or the "Company")
Board Change
The Board of PPHE Hotel Group announces that Chen Moravsky has
informed the Company of his intention to step down from his
executive roles of Deputy Chief Executive Officer and Chief
Financial Officer of the Company in order to pursue new
opportunities. The Company and Mr Moravsky have mutually agreed
that this change will take effect from 31 December 2017.
Mr Moravsky will remain as a non-executive director of the
Company beyond 31 December 2017. Mr Moravsky will also remain as a
non-executive director of the Company's subsidiary, Arena
Hospitality Group d.d.
The Company has commenced the process of recruiting a
replacement for Mr Moravsky and will make a further announcement in
due course as and when appropriate.
Commenting on the announcement, Boris Ivesha, President &
Chief Executive Officer said:
"On behalf of the Chairman and the Board I would like to thank
Chen for his long standing contribution. He has been a strategic
asset to PPHE Hotel Group for the past 16 years and has seen the
Company evolve and change through each phase of its
development.
"Chen has been instrumental in establishing the unprecedented
financial position the Company is in, and we are delighted that the
Board will continue to benefit from his contribution and leadership
in his new role as a non-executive director and we wish him all the
best in his new endeavours."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ('MAR').
Enquiries:
PPHE Hotel Group Limited
Boris Ivesha, President and Tel: +44 (0)20 7034
Chief Executive Officer 4800
Hudson Sandler Financial Public
Relations
Tel: +44 (0)20 7796
Wendy Baker/ Sophie Lister 4133
Notes to editors
The Company is a Guernsey registered company and through its
subsidiaries, jointly controlled entities and associates, owns,
leases, operates, franchises and develops full-service upscale,
upper upscale and lifestyle hotels in major gateway cities,
regional centres and select resort destinations, predominantly in
Europe.
The majority of the group's hotels operate under the Park
Plaza(R) Hotels & Resorts or art'otel(R) brands. The group has
an exclusive licence from Carlson Hotels Worldwide Inc., one of the
world's largest hotel groups, to develop and operate Park Plaza(R)
Hotels & Resorts in Europe, the Middle East and Africa.
The art'otel(R) brand is wholly owned by the group.
The group has a controlling ownership interest (51.97% of the
share capital) in Arena Hospitality Group, one of Croatia's
best-known hospitality groups.
The group's portfolio of owned, leased, managed and franchised
hotels comprises 39 hotels offering a total of approximately 9,000
rooms. The group's development pipeline includes two new hotels
which are expected to add an additional 500 rooms by the end of
2019.
Company websites:
www.pphe.com
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
This information is provided by RNS
The company news service from the London Stock Exchange
END
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