Boutique hotel chains Hotel du Vin and Malmaison have been sold by their private equity owners to Singapore-based property group Frasers Hospitality for £363.4m.
The hotel duo, which has 29 sites across the UK and is formally known as MHDV Holdings, has been sold by US group KSL Capital Partners, which bought the chain in 2013.
Frasers Hospitality is the UK branch of Singapore-listed Frasers Centrepoint.
“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,” Frasers Centrepoint Lim Ee Seng boss said.
Hotel du Vin and Malmaison was previously owned by MWB Group, which collapsed into administration in 2012.
The hotel group employs about 3,000 people and last year reported a 5.1 per cent rise in turnover to nearly £120m despite making an overall loss for the year ending June 2014. Barclays and Standard Chartered offered financial advice to Frasers Centrepoint.