PPHE Hotel Group said that “due to the fast-moving nature of the situation”, it was too early to estimate the impact of COVID-19 on trading.
The group said that, in line with the rest of the sector, there had been an increase in cancellations and a slowdown in future bookings.
“PPHE has a proven 30-year track record of navigating market and economic cycles. The group has a strong balance sheet, a well-invested estate in key gateway cities such as London and Amsterdam and an owner-operator business model which provides the flexibility to take proactive measures to respond to changing market conditions.”