Boutique hotel chains Malmaison and Hotel du Vin have been rescued by a takeover.
They have been bought by Denver-based private equity group KSL, said the Financial Times, in a deal thought to be worth almost £200 million.
KSL told the newspaper it will invest in both brands, which have continued to operate since their parent company MWB Group went into administration last autumn. KSL also intends to keep the existing management in place and look to expand the chains in the UK and abroad.
