After rumors circulated in November, it appears KSL Capital Partners has started the sale process of its boutique Hotel du Vin and Malmaison assets, which it acquired in March 2013 for £200 million (US$250 million), according to a report from Sky News.
Sky News reported that KSL and advisers at UBS have begun circulating financial information about the company to prospective buyers with offers expected the first week of February. The report further stated KSL could opt out of the sale if offers are unattractive.
The 30 hotels across the UK fell into administration in November 2012 and have seen results improve substantially under KSL-installed chief executive Gary Davis.
Malmaison Group recently acquired the historic Cannizaro House in southwest London, and is investing £1 million (US$1.5 million) to renovate and reflag the hotel under the Hotel du Vin brand. Other sites, including Great Scotland Yard in London, are also in the process of being acquired by the ambitious management team.