PPHE Hotel Group announced exceptional measures to mitigate the effect on its business of the Covid-19 pandemic. The Group is in the process of adopting a set of exceptional operational measures in order to significantly reduce its costs and help it navigate through these challenging and unprecedented times. These measures include reduced capacity of hotels in Germany and Hungary; the temporary closure of two hotels in Amsterdam and reduced capacity in the rest of the region; the potential temporary closure of approximately 2,000 rooms in London; steps to reduce payroll including reduced hours, potential reductions in FTEs and the deferral of all 2019 staff incentive payments; and a review into the timing and phasing of the Group's investment program me until markets improve.

Furthermore, the company's Board of Directors decided to withdraw its proposal for a final dividend of 20 pence per share in respect of 2019 at the company's forthcoming AGM, in order to further enhance the company's financial flexibility.