An affiliate of KSL Capital Partners has acquired the Malmaison and Hotel du Vin chains in the U.K.
KSL, a Denver-based private equity firm, plans to invest in the existing 27-hotel portfolio as well as grow both brands, according to Monday’s statement. KSL did not disclose the amount of the transaction, but London newspaper The Times reported that according to anonymous sources it was estimated to be £180 million (US$275 million).
MWB Group Holdings, London, the parent company of the Malmaison and Hotel du Vin hotel chains, announced in November 2012 that the company would enter administration after its 75%-owned subsidiary MWB Business Exchange withheld monthly payments to MWB Group. MWB Group Holdings saw its founder Richard Balfour-Lynn step down in March amid a dispute with the company's largest investor, Pyrrho Investment, Hong Kong, over the company's declining share value.