Frasers Hospitality UK Holdings, a wholly-owned subsidiary of Frasers Centrepoint Limited (FCL), has completed its acquisition of the Malmaison Hotel du Vin (MHDV) group of boutique lifestyle hotels.
The £363.4 million acquisition sees Frasers assume control of MHDV’s 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.
“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 Frasers Hospitality parent company, Frasers Centrepoint Ltd (FCL).
Both Malmaison and Hotel du Vin have enjoyed healthy average occupancies of more than 80% for the last three years.
“MHDV provides a tried and proven DNA in the boutique lifestyle segment for us. The purchase of Malmaison and Hotel du Vin perfectly complements our brand portfolio and gives Frasers Hospitality a platform to expand into the fastest growing hospitality sector. We look forward to building on this success with future development in the UK, Europe and Asia,” said Frasers Hospitality’s CEO, Choe Peng Sum. “With these two best-in-class lifestyle brands, we are on track to reach our goal of operating 30,000 keys by 2019.”
With the two new brands, the group’s platform comprises Fraser Suites, Fraser Place and Fraser Residence; serviced residences Modena by Fraser; hotel residences Capri by Fraser; and boutique lifestyle hotels Malmaison and Hotel du Vin.
The addition of MHDV brings Frasers Hospitality’s portfolio to 129 properties, across 77 cities and over 21,100 keys.
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