Frasers Hospitality UK Holdings, a unit of Singapore’s Frasers Centrepoint, has bought a UK boutique hotel operator for £363.4 million ($570.4 million) from an affiliate of KSL Capital Partners.

The hospitality unit took over the Malmaison Hotel du Vin group (MHDV) which owns two upscale boutique lifestyle brands – Malmaison and Hotel du Vin – comprising 29 boutique lifestyle hotels and 2,082 keys across 25 cities in the UK.

The acquisition brings Frasers Hospitality’s portfolio to 129 properties, across 77 cities and over 21,100 keys.

 “FCL’s strategy remains focused on achieving balanced growth across asset classes and diversifying our earnings profile. This acquisition is important as it doubles our offerings in Europe to about 4,000 keys and it propels Frasers Hospitality to be one of the leading hospitality players in this market.” said Lim Ee Seng, Group CEO of FCL.

Founded in 1994, MHDV’s management team has developed a unique collection of premier boutique hotels throughout the UK, specialising in the conversion and repositioning of iconic heritage buildings to capture the upmarket segment of leisure and business travellers.

Barclays Bank and Standard Chartered Bank are the joint financial advisers to FCL for this acquisition. – TradeArabia News Service