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).

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.