Redefine International PLC Redefine BDL Hotels Expands its Managed Portfolio (4274S)

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

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October 02, 2017 08:15 ET (12:15 GMT)