KSL sells Malmaison and Hotel du Vin chains for US$570m
by Jak Phillips | 30 Jun 2015
US private equity firm KSL Capital Partners has sold the Malmaison and Hotel du Vin UK hospitality chains to Singaporean serviced apartments group Frasers Hospitality for US$570m (£363m, €511m).
The sale marks a tidy profit for KSL, which bought the hotels in 2013 for a reported US$314m (£200m, €282m) and then spent money renovating existing properties and expanding into new locations.
Malmaison and Hotel du Vin are a collection of boutique hotels located throughout the UK. Malmaison consists of 13 properties, typically sited in historic buildings, while Hotel du Vin locations are concentrated in cathedral and university towns.
Both businesses were founded in 1994 by entrepreneurs – Malmaison by Ken McCulloch and Hotel du Vin Robin Hutson, the visionary behind Lime Wood and The Pig, which has just opened its third location.
Malmaison and Hotel du Vin will join Frasers Hospitality’s three serviced residence offerings – the Gold-Standard Fraser Suites, Fraser Place and Fraser Residence – as well as Modena by Fraser and Capri by Fraser – a design-led hotel residence aimed at the millennial business traveller.
“This acquisition is important, as it doubles our portfolio in Europe to 4,000 keys and positions Frasers Hospitality as one of the leading hospitality players in this market,” said CEO Mr Lim Ee Seng.
“Our strategy remains focused on achieving balanced growth across asset classes and diversifying our earnings profile," he said.
KSL focuses on travel and leisure businesses and the private equity firm remains active in the hotel market, having recently acquired the UK-based Village Urban Resorts from De Vere Group for around US$755m (£480m, €676m).
“We're grateful to have been part of Malmaison and Hotel du Vin,” said Coley Brenan, a principal of KSL. “Each property is unique, but each shares the common traits of exceptional service and wonderful food and beverage offerings. Thanks to the tireless efforts of the employees, we have no doubt they will continue to be two of the preeminent hotel brands in the UK.”
You can read an interview with KSL partner Rich Weissmann about the company's investment strategy in the Q1 2015 edition of CLADmag, by clicking here.
Among the portfolio is the eye-catching Hotel du Vin Birmingham Credit: Flickr.com / Tony Hisgett
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US private equity firm KSL Capital Partners has sold the Malmaison and Hotel du Vin UK hospitality chains to Singaporean serviced apartments group Frasers Hospitality for US$570m (£363m, €511m). The sale marks a tidy profit for KSL, which bought the hotels in 2013 for a reported US$314m (£200m, €282m) and then spent money renovating existing properties and expanding into new locations. Malmaison and Hotel du Vin are a collection of
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