Sky News has reported that Guy Hands is one of the remaining bidders for the Malmaison Group.
Terra Firma Capital Partners, Mr Hand’s private equity firm, is said to be one of the last three still in the running to become the new owner of the Hotel du Vin and Malmaison hotel groups, which was put up for sale for more than £350m in January.
If Hands is successful in his bid, the acquisition would put him in opposition with his wife Julia Hands, who runs the boutique hotel group, Hand Picked Hotels.
The deal would also mark a rare investment in a UK company for Terra Firma since Mr Hands gave up control of record label EMI after it ran into financial trouble in 2010.
Terra Firma’s portfolio now consists of Four Seasons, a healthcare group, Odeon Cinemas and Wyevale Garden Centres, with at least two of those businesses likely to be sold in the next 18 months, potentially making way for the addition of the Malmaison brand.
Boutique Hotelier reported last week that British equity group TDR Capital was also among the last remaining bidders for the boutique chain, which owns David Lloyd Leisure.
KSL Capital Partners acquired Malmaison Group in 2012 and decided to sell the business in January this year, putting the group up for auction with investment bank UBS.