Maiden dividend from Europe-focused International Hotel Properties
The hotel and leisure property investment group for investors seeking sterling returns declares a maiden dividend of 5.50p
Europe-focused hotel and leisure property investment vehicle International Hotel Properties (IHL), formerly International Hotel Group, has announced a full-year maiden dividend of 5.50p. The company listed on the JSE in October last year, intending to attract investors seeking sterling-denominated returns as they diversified away from local assets. IHL has a market capitalisation worth R1.120bn The company owns a portfolio of income-yielding hotel assets. The company owned eight hotels at the end of August, having acquired three in November last year, one in March this year and two in April 2016. Its Travelodge Belvedere development was completed in April this year. Its first hotel had been acquired in the previous financial year. This meant the business had not experienced a full year of revenue from the majority of its hotels. The prior year was non-comparable as the portfolio only comprised one owned hotel for any significant period of time in that year. IHL is the only pure offs...
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