KSL Capital Partners, which also owns the Hotel du Vin and Malmaison brands, is believed to have exchanged contracts to take over Village Urban Resorts from the De Vere Group for more than £480 million (US$760 million), according to various news reports.
The acquisition is said to be part of a £600 million (US$950 million) U.K. expansion for KSL.
KSL also announced the acquisition of Wimbledon’s Cannizaro House for an undisclosed sum earlier this week.