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The Real Hotel company looks for AIM move
The board of the Real Hotel Group (RHG) has announced its intentions to list the company on the Alternative Investment Market (AIM) on the London Stock Exchange.
A spokesperson for the group said that as a resilt of being admitted to trading on AIM, the company would have greater flexibility to implement its strategic goals and to focus on its core business activities.
He added: "However, we are aware that there are a number of factors which may make the admission RHC to AIM less attractive for certain shareholders of the company."
In August the group, which owns the Purple Hotels brand, reported operating losses of £1.4m in the first six months of 2008. It also reported a revenue loss of 1.6 per cent – down to £37.1m.
Earlier this year, the company disposed of three London hotels to Whitbread for £18.6m.
The company operates 58 hotels in the UK and Europe including Quality, Comfort and Clarion branded hotels under the Choice Franchise.
New UK sites are due to open in Sheffield (November 2008) and Chester (early 2009).
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