By Mark Kleinman, City Editor
The owner of Hotel du Vin and Malmaison, two of Britain's biggest boutique hotel chains, has kicked off a sale process which is expected to draw interest from a range of international investors.
Sky News understands that KSL Capital Partners, which acquired Malmaison Group in 2012, and advisers at the investment bank UBS have begun circulating financial information about the company to prospective buyers.
The launch of the process is earlier than expected, and will lead to offers for the chains being lodged during the first week of February, according to insiders.
Malmaison's sale comes just two years after its former parent collapsed into administration.
KSL, a private equity firm based in Denver, Colorado, could opt not to pursue a sale if bids are not financially attractive, one source said on Tuesday.
Hotel du Vin and Malmaison, which trade from nearly 30 sites across the UK, were previously owned by MWB Group, which fell into administration in November 2012.
The hotels, which had been beset by poor financial discipline, installed Gary Davis, an experienced industry executive, as their new chief executive in 2012, since when sales and profit have each grown substantially.
Mr Davis remains executive chairman of the company in addition to a new role as chief executive of the Village hotels chain, which KSL acquired just before the end of last year.
Malmaison Group, which employs approximately 3,000 people, recently acquired the historic Cannizaro House in southwest London, and will invest £1m in renovating the property before reopening it under the Hotel du Vin brand.
Other sites, including Great Scotland Yard in Central London, are also in the process of being acquired, underlining the growth ambitions of the company's management team.
Hotel du Vin and Malmaison have become prominent players in the hospitality sector, specialising in converting well-known local landmarks such as a former castle prison, hospital and sugar refinery, into boutique hotels.
The chains, which were founded in 1994, are likely to appeal to private equity funds and other international hotel operators, according to .
KSL, which also owns The Belfry, one of the UK's leading golf courses, is also poised to complete the purchase of the Village Urban Resorts chain in a £480m deal.
Speaking at the time of KSL's £200m takeover in March 2013, Richard Weissmann, a partner at the firm, said of the two UK hotel brands:
"At KSL, we look for unique travel and leisure businesses with strong management teams to help support and grow. Malmaison and Hotel du Vin occupy a strong position in the UK market.
Malmaison declined to comment on Tuesday.
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