Wed, 26 Nov 2014 | BUSINESS SALE
Hotel du Vin and Malmaison are to be put up for sale by their American private equity owner KSL Capital Partners.
The Denver-based owner has brought in investment banker UBS to manage a review of the options for the two hotel chains, with a resulting formal auction of the pair expected.
MWB Group, the hotel brands’ previous owner, entered administration in November 2012. KSL paid about £200 million to take on the hotel chains in March 2013, and drive forward its plans to become an international brand and undertake extensive renovation work on existing sites.
There are currently almost 30 hotels between the two brands, which were founded in 1994. Analysts predict the sale will draw in other private equity funds and international hotel operators.
The group, which has a 3,000-strong workforce, has recently bought Cannizaro House in south west London, and will devote £1 million to its development before opening it under the Hotel du Vin name.
The Central London property that was home to Great Scotland Yard will also soon join the property portfolio, along with other properties. Buying unusual sites, such as a former castle prison, hospital and sugar refinery, and converting them into boutique hotels has become a common theme for the company.
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