The private equity firm, which specialises in travel and leisure businesses, said it was planning to 'invest heavily' in the portfolio which comprises 12 hotels under the Malmaison brand and 14 under Hotel du Vin and will push forward with expansion by opening Malmaison Dundee in 2013 and a Hotel du Vin in St Andrews next year as well as look at growing both brands further.
Malmaison chief executive Gary Davis, who was quick to deny that the collapse of Malmaison Group's former parent company MWB Holdings would have an impact on the business last year, said he was 'excited' to be working with KSL.
"They have recognised the significant potential in our business," he said. "We look forward to leveraging their considerable expertise, which combined with the talent in our own senior leadership team, will further develop our leading hotel brands.
“Despite the wider challenging economic climate, we are proud of the strong operational and financial position that the hotels currently enjoy. Building on these foundations, we look forward to taking the dynamic brands onward into a period of exciting growth over the coming years.”
Committed to growth
Richard Weissmann, a partner at KSL, said the company was 'committed to growing' both boutique hotel brands and planned to renovate certain properties while also looking at expanding both in the UK and in international markets.
He said: “At KSL, we look for unique travel and leisure businesses with strong management teams to help support and grow. Malmaison and Hotel du Vin occupy a strong position in the UK market. With an exceedingly loyal following, we believe each brand has tremendous potential for further growth and expansion. We are pleased to be working with the company’s talented management team.”
The move will further grow KSL's presence in the UK and follows its purchase of golf hotel The Belfry last year.