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Hospitality real estate group PPHE Hotel Group has announced it is to join both the FTSE 250 and FTSE All Share Indices.
The latest quarterly review by FTSE Russell, the global index provider, confirmed that the company has met the requisite criteria and will be included as a constituent of both indices with effect from the start of trading on 24 June 2019.
This follows the transfer of PPHE Hotel Group’s ordinary shares to the Premium Listing segment of the FCA’s Official List in July 2018.
Boris Ivesha, president and CEO of PPHE Hotel Group said: “Inclusion in the FTSE 250 is another significant corporate milestone for PPHE Hotel Group. This is the culmination of much recent corporate activity which has been focused on engaging with a wider potential investor base and improving liquidity. We look forward to continuing to widen our existing strong investor base in the years ahead.”
He added: “PPHE Hotel Group’s proven development strategy is to target real estate in prime locations and attractive geographies where we believe there is significant upside potential to drive growth and long-term value through both the property portfolio and operations.
“PPHE Hotel Group has a £1.6bn portfolio (as valued in the summer of 2018) of primarily freehold and long leasehold assets in Europe in leading cities, urban markets and resort destinations.”
