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Johannesburg - Redefine International [JSE:RPL], the income focused UK real estate investment trust , announced on Wednesday that the Redefine BDL Hotel Group, of which the company owns 25.28%, has been appointed to manage a portfolio of 22 hotels on behalf of LRG Acquisition.
According to the company the deal establishes Redefine BDL not only as Europe's largest manager of InterContinental Hotel Group franchised properties, but also as the UK's largest independent hotel management team.
The 22 hotels, which have an annual turnover in excess of £200m, includes five central London hotels and Holiday Inns at Edinburgh, Cardiff, Glasgow and Birmingham NEC and will add almost 6 000 rooms to the managed portfolio.
"This is a landmark addition to the Redefine BDL portfolio. The quality and prestige of the properties are of a very high level, as is the calibre of the workforce that will be integrated into the team. Redefine BDL is looking forward to working closely with LRG and to further strengthening its successful partnerships with IHG," said Mike Watters, CEO of Redefine International.
According to the company the deal establishes Redefine BDL not only as Europe's largest manager of InterContinental Hotel Group franchised properties, but also as the UK's largest independent hotel management team.
The 22 hotels, which have an annual turnover in excess of £200m, includes five central London hotels and Holiday Inns at Edinburgh, Cardiff, Glasgow and Birmingham NEC and will add almost 6 000 rooms to the managed portfolio.
"This is a landmark addition to the Redefine BDL portfolio. The quality and prestige of the properties are of a very high level, as is the calibre of the workforce that will be integrated into the team. Redefine BDL is looking forward to working closely with LRG and to further strengthening its successful partnerships with IHG," said Mike Watters, CEO of Redefine International.
