September 2022, Virtual
September 29 2022, Virtual
Now in its 27th year, the Business Travel Awards
The Malmaison and Hotel du Vin group of boutique brands have been sold in a deal worth £363 million.
Singapore-based hotels and apartments operator, Frasers Hospitality UK Holdings a subsidiary of Frasers Centrepoint Limited, has acquired the 29 hotels from an affiliate of KSL Capital Partners.
The chain operates 29 hotels in cities across the UK including Manchester, Liverpool, Leeds and Birmingham.
The acquisition means Frasers Hospitality will double its room stock in Europe to around 4,000 rooms and expands the company’s portfolio to 129 properties in 77 cities with 21,100 rooms.
Mr Lim Ee Seng, group chief executive of Frasers Centrepoint, said: "(Our) 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."
Barclays Bank and Standard Chartered Bank are the joint financial advisers to Frasers Centrepoint.
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