KSL is working with advisers at investment bank UBS to find a buyer, with offers being lodged in the first week of February. However, the sale might not go through if bids aren’t attractive enough.
The hotel chain has a portfolio of 29 UK sites and was previously owned by MWB Group, before it went into administration in November 2012.
Hotel Du Vin recently acquired Cannizaro House in Wimbledon, investing £1m in the property as part of plans to open it as the brand's first London hotel. It is not known whether the propsed sale will affect these plans.