Minor International said Thursday it remains on track to launch a hotel real estate investment trust (REIT) “mid-next year”, after delisting its European hotel business from the Spanish stock exchange in September.
“Another key priority is strategic value creation, aimed at unlocking untapped portions of the company’s intrinsic value through a REIT IPO, expected to take place in mid-next year, alongside ongoing plans to realign our business portfolio,” Group CEO Dillip Rajakarier said.
The REIT will include some of the company’s European and Asian hotel assets, providing investors with exposure to different markets. A JP Morgan analyst report said Minor executives said they expect to list the REIT on the Si