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).
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »