£700m price tag on Malmaison and Hotel du Vin

Property group Marylebone Warwick Balfour (MWB) has put its Malmaison and Hotel du Vin hotel chains up for sale for an estimated £700m. The group said it had begun negotiations for a possible sale of the UK properties and operating business. The property for sale comprises an existing 10 Malmaison and nine Hotel du Vin hotels as well as three properties due for completion by the end of this year, and up to four more in the pipeline. MWB spokesman Baron Phillips described the £700m price tag as a “market guide price”. “It depends how the market is and what people are willing to pay,” he said. The group decided to sell the operating business in addition to the properties following interest from prospective buyers. “Initially, we were selling the property element of our hotels to Vector Hospitality…but that didn’t happen so we went about our business of putting out a sale memorandum of the properties,” said Phillips. “But interest has been phenomenal from all sorts of people and a lot of them have expressed interest in us selling the whole hotel business.” He would not be drawn on which companies had expressed interest but said they included existing hotel groups, private equity companies and investors. The first formal expressions of interest are expected to reach MWB by the end of July. MWB’s shareholders agreed to sell off the properties several years ago. “The sale is part of a shareholder-approved cash realisation programme that was agreed by shareholders in 2002,” said Phillips.

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