PHH’s 2024 financial results

Polish Hotel Holding strengthens its leadership position – 2024 results

Polish Hotel Holding (PHH) has summarized its financial results for the past year, recording revenue growth while maintaining stable profitability. In 2024, the revenues of the PHH Capital Group reached PLN 522.6 million, representing an increase of 4.7 percent compared to 2023. The main growth driver was PHH Sp. z o.o., which generated revenues of PLN 275.3 million, nearly 9 percent more than the previous year. In May, the PHH Group will present its new development strategy.

The gross result of the Capital Group in 2024 amounted to PLN 53 million. For PHH Sp. z o.o., it was PLN 82.8 million. The difference of nearly PLN 30 million is due to the results of subsidiaries, highlighting the Group’s diversified revenue sources.

New strategy in the second quarter

Despite challenging market conditions, PHH maintained high operational efficiency. The GOP (gross operating profit) ratio in PHH Sp. z o.o. amounted to PLN 91.5 million, and EBITDA reached PLN 118 million, confirming stable cost management.

Attention is also drawn to increases in ADR (average daily rate) and RevPAR (revenue per available room), which are evidence of effective sales activities. Room occupancy in PHH during the period was 73.9 percent, while the average for Poland stood at 68.6 percent (STR Global data). Meanwhile, the average room rate in 2024 amounted to PLN 414.91. By comparison, the national average was PLN 383.30 (data from over 400 properties of various categories). For the RevPAR index, PHH achieved PLN 306.80 versus the Polish average of PLN 262.98.

– All the activities we plan and implement are aimed at improving operational efficiency and cooperation between different segments of our business. Growth, supported by effective management and the commitment of our team, has resulted in an increase in revenues and key indicators such as RevPAR and ADR. We are currently working on a new development strategy, which we will present in May. Its aim will be to further strengthen our leadership position in the industry and to adapt to the dynamically changing market expectations, said Rafał Kincer, President of the Management Board of the PHH Capital Group.