FRASERS HOSPITALITY EXPANDS UK FOOTPRINT WITH FURTHER ACQUISITION THROUGH ITS MALMAISON AND HOTEL DU VIN GROUP
Frasers Hospitality, the hospitality arm of Frasers Centrepoint Limited, today announced the acquisition of a portfolio of four properties in the UK for a consideration of GBP36.1M (approximately SGD76.3M) from Swire Properties Hotels Holdings through the Group’s subsidiary, Malmaison and Hotel du Vin Property Holdings Limited.
This acquisition comes on the back of Frasers Hospitality’s recent purchase of the Malmaison and Hotel du Vin group which comprises 29 upscale lifestyle boutique hotels for GBP363.4 million (S$760 million) in June this year, providing Frasers Hospitality a platform to further expand into the fastest growing hospitality segment.
Mr Choe Peng Sum, CEO, Frasers Hospitality said, “These four stylish and iconic hotels in their respective cities are a perfect fit for Malmaison and Hotel du Vin, and this acquisition is clearly in line with the Group’s expansion strategy of the brands within the UK, Europe and Asia. With these two best-in-class lifestyle brands, we are on track to achieve our goal of operating 30,000 keys by 2019.”
The hotels will continue to operate under their existing names until 2016 when development plans will be revealed for each of the hotels. The hotels, all of which offer tastefully designed and popular restaurants, bars and meeting facilities, are:
Avon Gorge Hotel, Bristol – an iconic 75 bedroom hotel, overlooking the Avon Gorge and Brunel’s famous Clifton Bridge;
Magdalen Chapter, Exeter – formerly The West of England Eye Hospital, the striking 59 room hotel also offers a spa and swimming pool;
Montpellier Chapter, Cheltenham – the renowned and sophisticated hotel in the heart of the Cheltenham also boasts a spa and 60 contemporary style rooms; and
Hotel Seattle, Brighton – in a unique location close to the heart of Brighton’s vibrant life, the 71 room hotel offers stunning views of the marina and south coast.
Said Mr Paul Roberts, CEO of Malmaison and Hotel du Vin, “It was immediately apparent that they shared the approach and value of our brands with passionate employees determined to make every guest experience in unique settings a memorable one.”
The inclusion of the four properties brings Frasers Hospitality’s global portfolio to 136 properties across 78 cities and over 22,000 keys worldwide.