Sharenet Sites 
Sharenet Sites
Completion of hotel portfolio acquisitions and refinancing
REDEFINE INTERNATIONAL P.L.C.
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8V8G91
(“Redefine International” or “the Company”)
COMPLETION OF HOTEL PORTFOLIO ACQUISITIONS AND REFINANCING
Further to the announcement on 31 March 2014 and the Company’s recent interim management statement, Redefine
International is pleased to announce that it has, through its 71% held subsidiary Redefine Hotel Holdings Limited (“RHH”),
completed on the acquisitions of the remaining 40% interest in the 150 bedroom Holiday Inn Express Hotel in Earls Court
(the “Hotel”) and the 48 bedroom extension at the Southwark Holiday Inn Express (the “Extension”).
The purchase consideration of GBP6.3 million for the remaining 40% interest in the Hotel implies a value of
GBP28.1 million and a net initial yield of 7.0%. The Hotel is well located close to the Earls Court Exhibition Centre and
Arena and the Olympia Exhibition Centre and is trading ahead of expectations, with underlying occupancy at 86% for the
nine month period ended 31 May 2014.
The Extension was acquired for GBP11.35 million, and the purchase consideration reflects a net initial yield of
approximately 6.7%. The trading performance of the Extension has remained steady since the opening of the additional
rooms on 1 June 2014, with overall occupancies and RevPars in line with figures for the existing 88 bedrooms.
Both hotels form part of the Company’s existing portfolio of seven hotels held through RHH, for which the existing bank
loan has been refinanced, as previously announced. The new facility comprises a GBP 96.0 million loan for a six year term
at a margin of 2.275%. 75% of the loan has been hedged with a 3.0% interest rate cap for the remainder of the loan term.
For further information:
Redefine International P.L.C.
Michael Watters, Stephen Oakenfull Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Stephanie Highett, Dido Laurimore Tel: +44 (0) 20 3727 1000
FTI Consulting
UK Public Relations Adviser
Max Gebhardt Tel: + 27 (0) 11 214 2400
JSE Sponsor
Java Capital Tel: + 27 (0) 11 283 0042
Redefine International is a UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the
Johannesburg Stock Exchange.
5 August 2014
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