Vector Hospitality has announced it is to launch the first hotel REIT in the UK, with a portfolio valued at £2.6 bn (EUR 3.8 bn). The company, a partnership between the Alternative Hotel Group, Bank of Scotland Corporate and Richard Balfour-Lynn (RBS), is planning to raise about £2 bn through the offer. The company said it will apply for admission to the London stock exchange and subsequently elect to become a real estate investment trust. Admission is expected to take place in May 2007.
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