Park Plaza hotels owner mulls dual listing in Tel-Aviv

The owner of the Park Plaza chain of hotels announced this morning that it is mulling a second listing on the Tel-Aviv Stock Exchange.

PPHE Hotel Group notified the market at the end of June that it planned to transfer its London shares to a premium listing. This would make a dual listing structure easier to achieve.

However, the group said that discussions were at an early stage and that no timescale had been set.

The company, which also owns the Art'otel brand, has a market cap of around £630m. It first debuted in London with a listing on the junior market in 2007.

It has been chaired by Israeli businessman Eli Papouchado since its inception.

PPHE last month disclosed a valuation by property consultant Savills, showing that its real estate holdings had increased in value by £639m compared to book value.

The group has several landmark hotels in London, some of which were refinanced last month in a £45m deal.

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