Singaporean company buys 29 British boutique hotels in $570 million deal
Frasers Hospitality has paid $570 million for the Hotel Du Vin and Malmaison hotels, with many of them popular among top football stars and celebrities.
"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," said Lim Ee Seng, CEO of Frasers Hospitality.
Frasers has bought the hotels from private U.S.equity firm KSL Capital Partners. The company acquired the two hotel chains in 2012.
There are 13 Malmaison hotels, including four in Scotland, one in Northern Ireland and the rest in England. For four consecutive years Malmaison has won the best small hotel chain at the UK's Business Travel Awards.
The Hotel du Vin and Bistro chain has 16 hotels, with the latest to open just two minutes' walk from the world famous St Andrew's Championship golf course in Scotland.
Hotel du Vin outlets are described as having an "elegant and eclectic style, with trademark bistros and an emphasis on outstanding wine".
The Hotel du Vin chain has won accolades such as Business Traveller 'Best Small Hotel Group in the World' and a Gold Award winner by Conde Nast for design and ambience. ■