Redefine International acquires 25% stake in International Hotel Group

Redefine International has acquired a 25.35% stake in hotel and leisure focused property investment company International Hotel Group Limited (IHGL).

FTSE 250

20,338.55

15:20 18/11/24

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FTSE 350

4,456.77

15:20 18/11/24

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FTSE All-Share

4,414.61

15:20 18/11/24

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RDI Reit

121.20p

16:40 30/04/21

0.00%

0.00p

Real Estate Investment Trusts

2,103.20

15:20 18/11/24

-1.75%

-37.44

The FTSE 250 real estate investment trust announced on Thursday it acquired the stake for £3.8m.

Redefine chief executive Mike Watters said the investment it part of the group’s overall hotel investment strategy.

"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."

Shares in Redefine dipped 0.5p (0.94%) to 52.70p per share at 0812 BST.