Tax is not normally an subject to make the heart flutter, but there was more than a ripple of excitement in hospitality circles last year when the Government announced that hotels and restaurants were allowed to become part of a Real Estate Investment Trust (REIT).
But operators have been slow to join the REIT bandwagon with the major pub groups falling over themselves to rule out converting to REIT status and most hotels taking a watching brief. That was all set to change when Vector Hospitality, led by industry heavyweights Richard Balfour-Lynn and David Michels, announced the intention to float. However, it has now stalled due to lack of take-up and shareholder concern.
Nevertheless, the issue is set to run and run and you will be able to follow its progress here on this dedicated landing page, where we round-up all the news stories and comment surrounding REITs.
REIT news round-up
REIT comment and analysis