Regal REIT Moves to Extend Sub-Lease for Regal Airport Hotel
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Regal Real Estate Investment Trust announced an extension of the sub-lease for the Regal Airport Hotel, held by Bauhinia Hotels Limited. The sub-lease, originally expiring on 30 December 2028, is extended under a Letter of Intent. The net present value of the fixed annual rental payments under the extended sub-lease exceeds 5% but is below 25%, making it a discloseable transaction under Hong Kong’s Listing Rules. The Board confirmed the terms are fair and reasonable. The transaction requires reporting and announcement but not unitholder approval.
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