JOHANNESBURG - Redefine BDL Hotel Group (RBH), in which listed Redefine International has a 30.4% shareholding, has increased the number of hotels it manages by completing a transaction to manage a prestigious portfolio of 26 four-star luxury hotels in the UK on behalf of investment company Aprirose.
The 26 hotels have an annual turnover of more than £190m (R3.45billion) and were acquired by Aprirose from QHotels in a £525m deal.
The transaction will result in RBH managing more than 75 hotels, including a diverse mix of branded and private label properties that together provide more than 11000 rooms across the UK. Mike Watters, chief executive of Redefine International, said yesterday the inclusion of this portfolio was expected to drive significant additional revenue for RBH.
“All round, this is 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,” he said.
Helder Pereira, the chief executive of RBH, said this was another landmark addition to the RBH portfolio. “Leisure amenities, such as spas and golf facilities, represent key revenue streams for us. So we are very pleased with the quality and prestige of the properties we will now be managing. We look forward to continuing and strengthening our already successful working relationship with Aprirose as a key hotel owner,” he said.
- BUSINESS REPORT