Fortress Investment Group, which owns Poundstretcher and the Loungers bar chain, is considering the acquisition of two British hotel chains, Sky News has revealed.
The US investment firm is amongst the parties considering offers for Malmaison and Hotel du Vin. Now owned by Singapore-based Frasers Hospitality Group, the group trades from 37 hotels in 27 UK cities.
Frasers acquired the hotel chains from KSL Capital Partners in 2013, with the purchase price said to be £363 million.
A number of other bidders are also said to be participating in the auction handled by Cushman & Wakefield, although the current valuation attached to the business is unclear.
Why it matters
Fortress’ interest underscores the continued appeal of UK hotel assets and highlights the ongoing trend of international investors eyeing the UK as a lucrative market for hotel investments.