KSL Capital Partners is set to sell off its Village Hotels portfolio nine years after buying it, Sky News reported.
The American private equity company bought the chain of 33 hotels in 2014 from De Vere Group for £485 million in 2014.
KSL has started drawing up plans for the sale of the portfolio of budget hotels dotted around Scotland, England and Wales. However, the timing and valuation of any deal remains unclear.
Why it matters
KSL is likely testing the market to see if it can make a decent return on its nine-year-old investment. Pre-pandemic, Village Hotels announced plans to invest £480 million to expand the number of properties from 30 to 50 by 2026, creating 2,400 new jobs in the process. KSL remains an active player in the hospitality sector. Last year it acquired The Pig Hotels.