Tue, 19 Mar 2013 | BUSINESS SALE
Hotel chains Malmaison and Hotel du Vin have been bought by KSL Capital Partners for around £200 million after being on the market since November last year.
Their owner MWB Group Holdings entered administration shortly before the hotels were put up for sale.
The property and leisure business had been struggling to fulfil its instalment payments on its £200 million debts. The hotels have been trading as normal all this time.
KSL, which beat rival buyers including Moor Part Capital Partners in the final push of the auction, has indicated its plans to freshen up the 27 hotels and move forward with expansion plans.
The firm already has significant golf and ski resort ownership in America and controls the Western Athletic Clubs, an upmarket fitness club firm, and has plans to move the newly acquired brands into North America and Europe.
KSL commented, “Malmaison will continue its brand development plans including an extensive renovation programme and expansion within the UK, European and international markets.”
The expansion drive will commence with the opening of a new Malmaison leasehold in Dundee in September. An unbranded hotel in St Andrews that KSL has owned since 2008 will be reassigned with the Hotel du Vin branding.
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