Malmaison hotels group sold to US buyer of The Belfry
THE Malmaison hotels group has been sold to US private equity firm KSL Capital Partners.
KSL is the firm that last year bought the Belfry golf resort near Sutton Coldfield for £60m.
The Malmaison group sale is for an undisclosed sum but a figure of £200m has been suggested. The deal includes 27 Malmaison and Hotel du Vin hotels.
The group has both Malmaison and Hotel du Vin hotels in Birmingham. Hotel du Vin is in Church Street in the heart of the Colmore Business District while Malmaison is situated at the Mailbox.
In a statement Denver-based KSL said it will keep management in place and is planning to “invest significantly” in the existing portfolio and the growth of both brands in the UK and overseas.
Malmaison chief executive Gary Davis said: “Despite the wider challenging economic climate, we are proud of the strong operational and financial position that the hotels currently enjoy.
“Building on these foundations, we look forward to taking the dynamic brands onward into a period of exciting growth over the coming years.”
KSL has focused on resorts and the hospitality sector. It owns several golf and ski resorts in the US as well as a chain of fitness clubs in California.
Deloitte was appointed administrator to Malmaison’s parent company MWB Group in November but the hotels have been unaffected by the insolvency.
