Malmaison ‘on the blocks again’
THE private equity owner of hotel chains Malmaison and Hotel du Vin is looking to offload the 29 hotels, just two years after acquiring the business.
KSL Capital Partners is offering the group, which includes Malmaison’s Liverpool and Manchester hotels and Hotel du Vin’s properties, to prospective buyers through advisers from UBS.
Reports suggest that while there is less than a month before the deadline for offers, KSL will only sell if there is an attractive offer tabled.
The American private equity firm bought the hotel business, which was formed 20 years ago, for £200m after it ollapsed into administration in late 2012.
Since then the group has seen improved sales and profitability, and is expanding its portfolio with the acquisitions of Cannizaro House and Great Scotland Yard in London.