Added to YB: 2023-02-24
Pitch date: 2023-02-24
PPH.L [bullish]
PPHE Hotel Group Limited
+83.5%
current return
Author Info
Company Info
PPHE Hotel Group Limited owns, co-owns, develops, leases, operates, and franchises full-service upscale, upper upscale, and lifestyle hotels in the Netherlands, Germany, Hungary, Croatia, Serbia, Italy, Austria, and the United Kingdom.
Market Cap
GBP 570.0M
Pitch Price
GBP 9.58
Price Target
N/A
Dividend
2.95%
EV/EBITDA
14.09
P/E
25.61
EV/Sales
4.35
Sector
Hotels, Restaurants and Leisure
Category
value
Not your typical asset-play ($PPH.L)
PPH.L: PPHE Hotel Group trades at 45% of NAV, ARNT subsidiary at 53%. Founder-led, they own luxury city-center hotels in Europe + Croatian campsites. Asset-backed debt = virtually no downside. Focus on driving equity value by buying, building, operating prime real estate. 350% NAV growth since '07 IPO (9% CAGR). Low-followed £460M mkt cap impacted by COVID/Brexit/inflation concerns. Base case 4x upside to £1.85B NAV (1x multiple) + 10-15M EBITDA mgmt platform.
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