South African hotel company has 25% stake
South African hotel group Tsogo Sun, formerly known as Southern Sun, has entered the UK market following the acquisition of a 25% stake in Redefine BDL Hotels.
Under the new investment Tsogo Sun will develop its European hotel portfolio along with UK real estate investment trust Redefine International PLC which owns 25.3% of the company.
Redefine BDL Hotels currently has a management portfolio of 54 branded and unbranded hotels, and works with five major hotel brands: Hilton, Best Western, IHG, Wyndham and Starwood.
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.”
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.
Source: Travel Daily UK