Redefine International PLC Redefine BDL Hotels Expands its Managed Portfolio (4274S)
October 02 2017 - 7:15AM
UK Regulatory
TIDMRDI
RNS Number : 4274S
Redefine International PLC
02 October 2017
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
Redefine BDL Hotel Group Expands its Managed Portfolio
Redefine International, the FTSE 250 income focused UK-REIT, is
pleased to advise that the Redefine BDL Hotel Group Limited
("RBH"), in which the Company has a 30.4% shareholding, has
completed on a transaction to manage a prestigious portfolio of 26
four-star luxury hotels located throughout the UK (the
"Transaction").
The Transaction will result in RBH now managing in excess of 75
hotels, including a diverse mix of branded and private label
properties together providing more than 11,000 rooms across the
UK.
Mike Watters, CEO of Redefine International, commented: -
"The inclusion of this portfolio is expected to drive
significant additional revenue for RBH going forward. All round,
this a great accolade for the management team at RBH, as it is a
clear endorsement of their track record and reputation in the
market as experts in hotel management."
The full RBH press release can be found on their website at
http://www.redefinebdl.com/
For further information:
Redefine International P.L.C.
Mike Watters, Stephen Oakenfull Tel: +44 (0) 20
7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Tel: +44 (0) 20
Ellie Sweeney 3727 1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet, Lizelle du Tel: +27 (0) 11
Toit 447 3030
Java Capital
JSE Sponsor Tel: +27 (0) 11
722 3050
Note to editors:
About Redefine International
Redefine International is an income focused FTSE 250 UK Real
Estate Investment Trust (UK-REIT) committed to delivering superior
distributions to its shareholders throughout the property
cycle.
The Company's income driven total returns are underpinned by a
diversified portfolio, together with an efficient capital
structure. The continued transformation of both the corporate
structure and asset base offer a solid foundation to drive further
value. At 28 February 2017, the diversified portfolio,
independently valued at GBP1.5 billion, is focused in Europe's two
strongest economies, being the United Kingdom and Germany. The
portfolio is weighted towards well located properties across a
range of sectors, including retail, offices, distribution and
hotels, which benefit from strong demand and from which they can
capture income and value growth by attracting high calibre
occupiers on long leases. The Company's investment philosophy is to
effectively allocate recycled capital from mature assets into
sectors and locations with strong occupier fundamentals and
individual assets with realisable upside.
The secure income stream is supported by a diversified portfolio
and tenant base, with a WAULT of 7.5 years complemented by an
average debt maturity of 6.8 years of which over 95% of interest
costs are either fixed or capped. The Company is focused on all
aspects impacting shareholder distributions and boasts one of the
lowest cost ratios in the industry whilst continuously driving
lower cost of debt.
Redefine International holds a primary listing on the London
Stock Exchange and a secondary listing on the Johannesburg Stock
Exchange and is included within the FTSE 250, EPRA and GPR
indices.
For more information on Redefine International, please refer to
the Company's website www.redefineinternational.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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