Redefine International has completed the acquisition of five Holiday Inn hotels in London, UK, for £112.2m ($174.7m).

The hotels include Royal Docks Holiday Inn Express, Limehouse Holiday Inn Express, Southwark Holiday Inn Express, Park Royal Holiday Inn Express and Brentford Lock Holiday Inn with a total of 616 rooms.

The company secured a £68.4m ($106.5m) loan from Aareal Bank to fund the hotel acquisition, which was first announced on 26 July 2010.

Redefine International is an international property investment and fund management group, owned by Redefine Properties.