PPHE Hotel Group said today it will look to tap into the Midscale Lifestyle demographic by adding a new 179-room hotel in its Park Plaza hotel location in Victoria, London.
The group has confirmed planning approval from Westminster City Council, which would allow it to build a new 179-guest room hotel, spanning 6,500 sq metres below its existing property.
The existing 299-room Park Plaza Victoria London hotel would continue to operate as a “standalone” business.
PPHE will run a dual-branded hotel upon completion, consisting of the Upper Upscale Park Plaza Victoria London and a Midscale Lifestyle product with a brand yet to be announced.
Boris Ivesha, president and chief executive of PPHE, said: “Situated in the heart of the city, this 179-room property will further enhance our London portfolio, broaden our accommodation proposition, enabling us to tap into a new guest demographic, whilst maximising returns.
“The strategy here is consistent with the group’s longstanding approach to building long-term shareholder value through the measured use of its balance sheet and tactical capital investment.”