Singaporean serviced-apartments group Frasers Hospitality UK Holdings Limited purchased the Malmaison Hotel du Vin group for £363 million (US$576.4 million). The 29-hotel portfolio was previously owned by U.S. private equity group KSL Capital Partners, who made the acquisition in 2013 for almost £200 million (US$317.6 million).
Choe Peng Sum, CEO of Frasers, said the acquisition puts the group on track to reach its goal of operating 30,000 hotel rooms by 2019.
Watson Farley & Williams advised Frasers on the acquisition, and Dentons advised KSL on the sale.