The proposal to acquire outstanding interests in its Croatian resort businesses is an intriguing complement to PPHE’s focus on European gateway cities and completes its tidying of ownership issues, allowing it to capitalise on opportunities now afforded by full control of its estate. Although capital intensive, ownership offers scope for potential asset appreciation. We will update our forecasts once key financials of the proposed transaction have been clarified. Meanwhile, company results for 2015 are due imminently
