Boutique hotel chains check in with new owner in £363m deal

0
Have your say

TWO boutique hotel brands have secured a new owner, it was confirmed today.

Frasers Hospitality UK Holdings Limited, a subsidiary of Frasers Centrepoint Limited, has completed the acquisition of the Malmaison Hotel du Vin (MHDV) group of hotels for £363m from an affiliate of KSL Capital Partners.

MHDV owns two boutique lifestyle brands – Malmaison and Hotel du Vin – comprising 29 properties across 25 cities.

Lim Ee Seng, the group chief executive of FCL, said: “FCL’s strategy remains focused on achieving balanced growth across asset classes and diversifying our earnings profile.

“This acquisition is important as it doubles our offerings in Europe to about 4,000 keys and it propels Frasers Hospitality to be one of the leading hospitality players in this market.”

Frasers’ Hospitality chief executive Choe Peng Sum added: “The purchase of Malmaison and Hotel du Vin perfectly complements our brand portfolio and gives Frasers Hospitality a platform to expand into the fastest growing hospitality sector.

“We look forward to building on this success with future development in the UK, Europe and Asia.

“With these two best-in-class lifestyle brands, we are on track to reach our goal of operating 30,000 keys by 2019.”

The portfolio includes Malmaison in Leeds, Hotel du Vin in York, a Grade II listed former orphanage, and Hotel du Vin in Harrogate, which is formed from a row of eight Georgian houses.

Colorado-based KSL Capital Partners bought Malmaison and Hotel du Vin for around £180m in 2013.

KSL has overseen significant investment in the existing portfolio.