Irish Investor to Buy Boutique Hotels?
Irish property investor Quinlan Private has emerged as an early leading contender to buy Marylebone Warwick Balfour’s chain of boutique hotels, Malmaison and Hotel du Vin.
MWB, run by Richard Balfour-Lynn, hired Bank of America to sell the businesses following his failed attempt to float Vector Hospitality, a real estate investment trust potentially worth £2.6bn. Vector included Hotel du Vin, Malmaison and other assets owned by Royal Bank of Scotland and HBOS. The flotation failed due to lack of interest from investors.
MWB originally wanted a £450m sale and leaseback of the hotels but this week directors confirmed that the group intends to sell the hotel operations along with the real estate. Read more