Belfry owner buys Village Urban Resorts for £490m
KSL Capital Partners, the US private equity firm which owns the Belfy golf course and hotel near Sutton Coldfield, has bought the 25 hotels and operating business of Village Urban Resorts from De Vere for around £490m.
Specialist commercial property site CoStar News reports that KSL Capital Partners won a close competitive bidding process.
The sale is thought to have attracted around 20 bids.
It says the sale of the business and hotel portfolio, which comprises 3,100 rooms, launched in the summer with bids starting at £450m.
The 25 hotels are based predominantly in and around major cities. There are four Village Urban Resorts in the West Midlands: Coventry, Dudley, Solihull and Walsall.
