Vector Hospitality to convert to Reit

A £2.6bn vehicle focusing on hotel and hospitality assets is aiming to list on the stock exchange in...

A £2.6bn vehicle focusing on hotel and hospitality assets is aiming to list on the stock exchange in May and convert to UK Reit status as soon as possible. The Vector Hospitality vehicle was incorporated in March to acquire hotel and hospitality properties in the UK. The vehicle's portfolio will consist of 71 hotels across the UK and it has contracted another seven for acquisition at a total value of £113m. The Reit will not operate any hotels, leaving day-to-day management to the hotel operators, which include brands such as Hilton, Marriott and Thistle. The hotels will generate an inc...