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The American private equity backer of Village Hotels, KSL Capital Partners, is getting ready to offload the chain of properties it acquired in 2014 for £485m, Sky News has reported.
According to Sky News, while the timing and valuation of any deal were unclear on Friday (26 May), the Colorado-based backer has begun drawing up plans for an exit from the investment.
Village Hotels comprises an estate of 33 properties in locations such as Aberdeen and Bournemouth, with rooms available at “budget” prices.
The brand, which was founded in 1995 as Village Urban Resorts, also features pub-style restaurants and gyms.
The American investor reportedly paid £485m for the business in 2014 when it was acquired from De Vere Group.
Previously, the buyout firm also owned other UK hotel chains including Hotel du Vin and Malmaison.
Sky News stated that one hotel industry executive said advisers were likely to be appointed to “oversee a sale in the near future”, as it is expected to draw significant interest from a pool of financial buyers.
KSL Capital Partners has declined to comment.
