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Hospitality real estate company PPHE Hotel Group has said it views the USD 1.24 billion takeover proposal from Israel-based Fattal Hotel Group as a fair valuation of the business. The offer of GBP 22 per share reflects a 36.5% premium to PPHE’s latest closing price. The development comes months after PPHE began a strategic review following indications from major shareholders Eli Papouchado and Boris Ivesha that they were open to a partial stake sale. PPHE said it will now engage with major shareholders to assess the proposal, while Fattal has retained flexibility to modify the structure or value of the offer under certain conditions.
Hospitality real estate company PPHE Hotel Group said in the past week that it had received a GBP 920.9 million takeover proposal from Israel-based Fattal Hotel Group, valuing the company at nearly USD 1.24 billion. The company stated that the proposed offer fairly valued the business and confirmed that discussions with shareholders would now follow to assess the feasibility of the transaction. Advertisement
The proposed offer stands at GBP 22 per share, representing a 36.5% premium to PPHE’s latest closing price before the announcement. PPHE added that it would engage with its major shareholders to evaluate the deliverability and overall terms of the proposal.
The development follows the strategic review launched by the London-listed hospitality group in the past year. The review was initiated shortly after controlling shareholders Eli Papouchado and Boris Ivesha indicated that they were willing to consider a possible partial sale of their holdings in the company.
Papouchado and Ivesha together control around 44% of the voting rights in PPHE, making their position important to the outcome of any potential acquisition process. Market participants have been closely watching the company since the strategic review began, particularly because of its sizeable hospitality and real estate portfolio across key European markets.
Fattal Hotel Group, one of Israel’s largest hotel operators, said it reserved the right to revise the structure or value of the proposal in certain situations. This could include introducing securities as part of the offer or reducing the GBP 22-per-share proposal under specified conditions.
Amsterdam-headquartered PPHE owns and operates hospitality real estate assets across Europe. Its portfolio includes hotels operating under brands such as Park Plaza and art’otel. The group has a strong presence in several major European cities and derives revenue from hotel operations, property ownership and management activities.
Fattal Hotel Group operates hotels across Europe and the Middle East through multiple hospitality brands and has expanded steadily in recent years through acquisitions and partnerships. A successful deal would further strengthen its footprint in the European hospitality market at a time when hotel investment activity has started improving after a slower phase triggered by inflationary pressures and higher financing costs.
The proposed transaction also reflects continued investor interest in hospitality-linked real estate assets, particularly established hotel platforms with strong urban locations and long-term operational brands.
Source Reuters
5th Jun, 2025
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