Marylebone Warwick Balfour Group Plc has announced the sale of its Malmaison and Hotel du Vin Property Portfolio to Vector Hospitality, for a minimum value of £495.1m. 

The sale continues the group’s strategy of realizing assets for the benefit of shareholders. Following completion, the adjusted equity attributable to shareholders will increase by £70m to 272p per share, amounting to an additional 87p per share.

Richard Balfour-Lynn, Chief Executive, commented “Today’s announcement forms an integral part of our stated strategy of returning cash, or cash equivalents, to shareholders. Importantly for our hotels business, which is one of the UK’s leading lifestyle hotel groups, the transaction creates a debt-free operation able to focus on generating excellent returns to investors over the medium term.”