It’s been reported that TDR Capital, a British private equity firm, has emerged as the front runner to buy the Malmaison and Hotel du Vin hotel chains.
According to The Times, the British company whose investments include David Lloyd Leisure and Stonegate Pub Company, is understood to be one of the two or three parties still involved in the £350m auction of the boutique brands.
The sale, controlled by KSL Capital Partners, has progressed since previously interested party, Great Eagle Group, the Hong Kong-based owner of the five-star Langham Hotel in London, reportedly withdrew from the bidding process, improving the changes of success for TDR Capital.
Denver-based KSL Capital Partners acquired the boutique Malmaison and Hotel du Vin chains for almost £200m two years ago, before rumours started to swirl of plans to sell in November 2014.
In the past two years, the company has expanded to 29 properties across the UK, most recently acquiring Cannizaro House in Wimbledon, investing £1m to bring the boutique hotel up to Hotel du Vin standards.