PPHE is pleased to announce that certain of its wholly-owned subsidiaries have entered into a facility agreement with Aareal Bank AG (Aareal) to refinance three of the group's four owned London hotels - Park Plaza Riverbank, Park Plaza Victoria and Park Plaza Sherlock Holmes - and five Dutch hotels which it operates and owns - Park Plaza Victoria Amsterdam, Park Plaza Vondelpark, Park Plaza Eindhoven, Park Plaza Amsterdam Airport and Park Plaza Utrecht (the London and Dutch hotels, together the Hotels). At the group's option and subject to satisfaction of certain conditions, the facility will also refinance the existing development facility for the recently opened art'otel amsterdam, which matures in Q1 2014.

The refinancing involves a 5-year term facility comprising a sterling tranche of

£167,600,000 and a euro tranche of €153,191,000. The Hotels were previously financed by three separate facilities provided by Aareal with various maturity dates between December 2013 and September 2017. As well as refinancing the existing facilities, the facility will fund capital expenditure at the Hotels.

The facility will be secured by, inter alia, first legal charges over each Hotel and pledges

over the shares in each hotel owner and their related operating subsidiaries. The facility agreement, which is subject to certain conditions precedent being fulfilled, is expected to complete on 3 December 2013. Further details on the facility agreement will be provided to shareholders on or about that date Boris Ivesha, President & Chief Executive Officer of PPHE Hotel Group Limited, commented:

"We are delighted to have secured the refinance of these hotels. This agreement builds

on the group's existing relationship with Aareal Bank AG in the UK and the Netherlands and we are delighted with its continuing confidence, commitment and support.
The new facility enables us to invest further in these well-established and well-performing hotels and our experienced management will continue on optimising their performance, growing their market share and delivering great customer service."

About PPHE Hotel Group

PPHE Hotel Group is an international hospitality real estate company, with a £2.0 billion portfolio, valued as at December 2022 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its portfolio includes full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations. The Group's strategy is to grow its portfolio of core upper upscale city centre hotels, leisure and outdoor hospitality and hospitality management platform.

PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.

PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.

Company websites

www.pphe.com | www.arenahospitalitygroup.com

For reservations

www.parkplaza.com | www.artotel.com |www.arenahotels.com | www.arenacampsites.com