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Loungers-owner Fortress plots stay at Malmaison hotels
The owner of the Loungers bar chain and Poundstretcher, the discount retailer, is weighing a takeover of two of Britain's best-known hotel chains.
Sky News has learnt that Fortress Investment Group is among the parties considering offers for Malmaison and Hotel du Vin, which sit under the same ownership structure. Cushman & Wakefield (C&W), the commercial property agent, is handling the auction.
The group trades from 37 hotels in 27 UK cities, with the portfolio split almost equally between the two brands. Money latest: Rival set to overtake Morrisons The chains have been through a succession of owners over the last 20 years, including the private equity firm KSL Capital Partners.
They are now owned by Singapore-based Frasers Hospitality Group, which reportedly paid more than £360m to acquire the group in 2015. A number of other bidders are also said to be participating in the auction, although the current valuation attached to the business was unclear.
Fortress has been on a buying spree in Britain in recent years, snapping up assets including Majestic Wine. Earlier this year, the investment firm bought Loungers for about £350m, while it also explored a takeover of the supermarket chain Wm Morrison in 2021 before being beaten to a deal by buyout giant Clayton Dubilier & Rice.
Fortress declined to comment, while C&W has been contacted for comment..
Amir Nisi
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