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LondonMetric Property PLC has acquired a portfolio of Premier Inn hotels for GBP 89 million, adding to its growing hospitality real estate exposure. The hotels will continue to operate under the Premier Inn brand, owned by Whitbread PLC, which has a strong presence across the UK budget hotel market. The deal reflects LondonMetric's ongoing diversification strategy, as the company expands beyond logistics and retail assets into income-generating hospitality properties. The transaction supports its focus on stable, long-term returns backed by established operators.
LondonMetric Property PLC has completed the acquisition of a portfolio of Premier Inn hotels with a total value of GBP 89 million, strengthening its exposure to the UK hospitality and leisure real estate segment. The transaction was disclosed by the company in a regulatory update released during the past week. Advertisement
The acquired assets are operated under the Premier Inn brand, one of the UK's largest budget hotel chains owned by Whitbread PLC. Premier Inn has a strong nationwide presence and is known for stable occupancy levels, supported by domestic business and leisure travel demand. The hotels are expected to continue operating under existing arrangements, ensuring continuity of income.
LondonMetric has, over recent years, steadily diversified its portfolio beyond traditional logistics and retail warehousing into alternative real estate assets, including hotels and leisure-linked properties. The company has previously highlighted hospitality assets as offering long-term income visibility when leased to established operators.
The acquisition aligns with LondonMetric's broader strategy of investing in assets backed by strong covenants and long-term leases, while maintaining a disciplined approach to capital deployment. No further financial or operational details of the transaction were disclosed in the filing.
Source Reuters
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