PPHE Hotel Group Limited reported interim management statement and operating results for the first quarter ended 31 March 2014. Total revenue for the first quarter increased by 12.4% to €54.6 million compared to €48.6 million reported a year ago. On a constant currency basis, total revenue for the quarter increased by 9.8% to €53.4 million. On like for like basis, total revenue was €52.5 million compared to €47.4 million reported a year ago.

RevPAR increased by 11.7% to €89.8 compared to €80.4 reported a year ago. This growth was the result of an 8.3% increase in average room rate to €123.6 compared to €114.1 reported a year ago and 220 basis points growth in occupancy to 72.7% compared to 70.5% reported a year ago. On like for like basis, occupancy rate was 73.0% compared to 70.6% reported a year ago. Average room rate was €122.3 compared to €116.7 reported a year ago. RevPAR was €89.3 compared to €82.4 reported a year ago.

The Board expects the full year results to be in line with its expectations.