- May 27, 2014
- Posted by: admin
- Category: Tsogo Sun Holdings
Redefine|BDL Hotels, the UK’s leading independent hotel management company, has strengthened its position in the industry with the announcement that Tsogo Sun Holdings Limited has invested in a 25% interest in the company.
The industry specialist, which has a portfolio of 54 branded and unbranded hotels under management with a turnover in excess of £200 million, has attracted the investment from South Africa’s leading gaming, entertainment and hospitality group.
Marcel von Aulock, Chief Executive Officer at Tsogo Sun, said: “There is the potential for opportunities to deploy capital in attractive investments in the European market and the investment in Redefine|BDL Hotels gives an ideal platform to achieve this.”
Redefine|BDL Hotels’ depth of experience of the UK hotel sector and its track record of delivering commercial results for its properties presented the perfect strategic fit for both parties.
Helder Pereira, Chief Executive Officer of Redefine|BDL Hotels, said: “This is the beginning of a successful partnership that not only complements both companies but really bolsters our potential for growth at an accelerated rate. We are excited by the opportunities that lie ahead and look forward to working closely with the team at Tsogo Sun Holdings.
“Our experience, scale and consistent track record coupled with the credentials of Tsogo Sun Holdings will ensure our reputation as a major player in the hotel management sector.
“We have a portfolio made up of some of the world’s biggest international hotel brands but are always looking at new avenues and areas for growth. With a partner of this calibre on board, we can really focus our efforts on looking to the future and building on the success to date.”
Following this transaction there are now two strong listed entities holding shares in Redefine|BDL Hotels with Redefine International PLC, a UK Real Estate Investment Trust which is listed on the London Stock Exchange, holding 25.3% of the company. Both these entities wish to invest in future hotel assets which will be operated by Redefine|BDL Hotels.
Michael Watters, Chief Executive Officer of Redefine International PLC, said: “This investment by Tsogo Sun confirms the confidence that Redefine International PLC has in Redefine|BDL Hotels and its growth potential. The deal provides Redefine|BDL Hotels with additional cash resources to develop and update its business in the UK and Europe.”
Redefine|BDL Hotels works in partnership with five of the most prestigious international hotel brands in the world, including Hilton Worldwide, Best Western, IHG, Wyndham Hotels & Resorts and Starwood Hotels & Resorts Worldwide.
The company offers a wealth of hotel and project management expertise with an expert team of more than 90 hotel specialists operating from offices in London and Glasgow. The portfolio under management unites more than 6,000 rooms and 3,000 staff.
Tsogo Sun Holdings Ltd acquired a 25% interest in Redefine|BDL Hotel Group Limited on May 1 2014.