International hospitality group PPHE Hotels (PPH) has agreed to sell a New York development site, abandoning its US growth ambitions. The site in Manhattan was meant to be the springboard for the firm’s US business when it was acquired in 2019. Share price: £20.55 (-0.2%) PE: 45x Market cap: £985m Yield: 1.75% ‘No longer viable’ … Continue reading PPHE Hotels scraps US growth ambitions