Source: Sharecast
In a brief statement in response to press speculation, Eli Papouchado and Boris Ivesha - who collectively own around 44% of the voting rights of PPHE - said they are not in talks with any parties, and are not in receipt of any offer for their collective stake in PPHE.
There can be no certainty that any such offer will be made, they added.
The announcement came after Bloomberg reported that founder Papouchado and PPHE President Ivesha were working with advisers and have approached some buyout firms about the possibility of taking the company back into private ownership.
In their statement on Friday, the shareholders said PPHE is now considered to be in an offer period and a further announcement will be made when appropriate.
At 0940 GMT, the shares were up 11.2% at 1,668p.
Dan Coatsworth, head of markets at AJ Bell, said: "In the years running up to the pandemic PPHE was a solid stock market performer as the Park Plaza hotels brand, for which it is the master franchisee, resonated with travellers and underpinned strong growth for the business.
"However, the intervention of the pandemic had a dramatic impact on PPHE, like it did many of its peers. Beyond an initial recovery, the shares have struggled to make much progress.
"PPHE is something of an outlier in the sector as it owns most of its hotels outright rather than just operating them.
"This is the context for reports its biggest shareholders are considering taking the company private. Founder Eli Papouchado and President Boris Ivesha collectively own around 44% of the hotel group. They’ve confirmed an intention to consider options, from putting more money into the business to selling down some of their investment.
"If the business is failing to resonate with other investors, it will understandably provoke questions about the costs and complications of maintaining a stock market listing and whether PPHE might be better off taken private."