KSL checks out of Malmaison group with £160m profit

A SINGAPORE-BASED property group has acquired the Malmaison Hotel du Vin (MHDV) group for £363.4m.

Fraser Hospitality UK, a subsidiary of Fraser Centrepoint, which is listed on the Singapore stock market, has bought the boutique hotel chain from American private equity group KSL Capital Partners.

KSL bought the hotel group for £200m after it had collapsed into administration in late 2012.

The Malmaison and Hotel du Vin brands consist of 29 hotels across 25 cities, which includes Malmaison’s Leeds hotel and Hotel du Vin’s properties in Harrogate and York, with healthy occupancies of over 80% across the group for the past three years.

Fraser Hospitality’s chief executive Choe Peng Sum said: “The purchase of Malmaison and Hotel du Vin perfectly complements our brand portfolio and gives Frasers Hospitality a platform to expand. We look forward to building on this success with future development in the UK, Europe and Asia.”

“Travellers are turning away from cookie-cutter hotel offerings and looking for lifestyle experiences. MHDV is key in developing this fomat and remains at the heart of its development.”

The deal expands Fraser’s global footprint to 129 properties across 77 cities.