Sun, 18 Nov 2012 | BUSINESS SALE
Following the collapse last week of MWB Group Holdings into administration, boutique hotel chains Hotel du Vin and Malmaison have been put up for sale.
MWB Group Holdings, which also runs the serviced office company MWB Business Exchange, has been struggling to meet interest instalments on its £200 million debt pile.
A spokesperson from Deloitte, which has been formally appointed as the administrator, said that the hotels are 'trading as normal'. This message was reiterated by the CEO of Hotel du Vin and Malmaison, Gary Davis, who said that the hotel division had recently been performing very strongly.
Meanwhile, tempted by a buoyant London property market, Marriot International has put up its 193-room Berners hotel for sale. Apparently Marriot still wants to run with the original long-term plan to rebrand the hotel under the Edition brand, once the current refurbishment process completes next year. It is hoping to put together a management deal with the new owners.
Berners hotel was bought from KMPG by Marriot in October 2010 for somewhere around £60m following the collapse into administration of JWW Hotels & Resorts. Marriot are hoping for offers in excess of £120m for the hotel, which would represent a tidy cash windfall even after it recouped its refurbishment costs.
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