15th Oct 2015 06:44
LONDON (Alliance News) - FTSE 250-listed real estate investor Redefine International PLC on Thursday said it has spent GBP3.8 million on acquiring a 25% stake in International Hotel Group Ltd.
International Hotel Group is a hotel and leisure-focused property investor which owns three hotels in the UK, Redefine said.
"This investment in IHGL is part of our overall hotel investment strategy, which includes our 25% holding in the Redefine BDL Hotel Group, the UK's leading independent hotel management company. We expect IHGL to grow into a significant hotel investment vehicle over the medium term and look forward to superior risk adjusted returns being achieved by its highly rated management team," said Mike Watters, Redefine's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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