Full occupancy in PHH properties

The revenues of the PHH Capital Group, owned by the State Treasury, for the first three quarters of 2024 reached PLN 405.6 million, an increase of PLN 20 million compared to the same period in 2023. The main growth driver was PHH Sp. z o.o., which generated revenues of PLN 210.6 million, nearly 10 percent more than in the corresponding period of 2023.

The gross result of the Capital Group amounted to PLN 58.8 million, while the gross result of PHH Sp. z o.o. closed at PLN 71 million. The difference of PLN 12 million stems from the results of subsidiaries, underlining the Group’s diversified revenue sources. Currently, its activities are focused on the dynamic development of hotel infrastructure. By 2028, 30 hotel modernization investments will be completed, including in Wrocław, Poznań, Katowice, Kraków, Świnoujście, and Dąbki.

Increases in ADR (average daily rate) and RevPAR (revenue per available room) also stand out, reflecting the effectiveness of sales activities. Room occupancy in PHH reached 75.5 percent during the period, compared to the national average of 68.6 percent. Meanwhile, the average room rate in the first nine months of 2024 amounted to PLN 419.02, compared to the national average of PLN 384.9 (based on data from over 400 properties of various classes). As for RevPAR, PHH recorded PLN 316.44, compared to the national average of PLN 264.12.

– The results for the first three quarters of 2024 confirm that our strategy of dynamic growth and effective management is delivering results. The revenue increase of PLN 20 million, driven mainly by PHH Sp. z o.o., demonstrates that our sales and operational activities are yielding the expected outcomes. Maximizing key operational indicators such as RevPAR and ADR, combined with growing operating revenues, is proof of the growing potential of Polish Hotel Holding, said Rafał Kincer, President of the Management Board of the PHH Capital Group.

The PHH Group is the second-largest hotel group in the country and the first with exclusively Polish capital. It currently includes over 50 hotels and properties with nearly 6,000 rooms. The Group cooperates – as a franchisee – with leading global hotel chains such as Marriott International, Hilton Worldwide, Best Western Hotels & Resorts, InterContinental Hotels Group, Louvre Hotels Group, and Accor.