CRE­AT­ING SHARE­HOLDER VALUE: PARK PLAZA LON­DON WATER­LOO

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Park Plaza Lon­don Water­loo is an ex­cel­lent ex­am­ple of PPHE’s abil­ity to adapt its model and seize an op­por­tu­nity to de­velop a high-qual­ity ho­tel and cre­ate value for share­hold­ers.

In 2013, Her­cules House, a re­dun­dant of­fice build­ing close to Water­loo sta­tion, was ac­quired. Plan­ning per­mis­sion was granted in 2014 and con­struc­tion com­menced to ex­tend the foot­print and de­velop the prop­erty into a world class ho­tel with nearly 500 rooms.

Con­struc­tion was com­pleted in June 2017 and the ho­tel opened to guests. The to­tal cost of in­vest­ment in the prop­erty (in­clud­ing ac­qui­si­tion of the site) was £125m.

In July 2017, the ho­tel was sold for £161.5m and leased back for 199-years, un­lock­ing over £36m in cash whilst se­cur­ing op­er­at­ing in­come and main­tain­ing con­trol of op­er­a­tion of the ho­tel for many years to come.

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