PPHE Hotel (LON:PPH) - Interim success
Aug 22nd 2012 - Edison Investment Research today published a report on PPHE Hotel (PPH.L, LSE:PPH, LON:PPH) entitled "Interim Success". In summary, the report says:
Continuing premium RevPAR growth in London has driven a decent financial performance in H1. More of the same is likely in H2, given apparently little softening of demand and a proven ability to raise room rate on historically high occupancy. With PPHE’s already striking discount to NAV materially boosted by revaluation of certain Dutch hotels, investor recognition of this yawning gap is surely overdue. Euro translation has led us to raise EBITDA forecasts (minimal impact at the pre-tax level).
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