The private equity firm behind one of the British film industry's biggest success stories tabled an offer for the hotel group last week, Sky News understands.
City editor @MarkKleinmanSky
Sunday 12 May 2024 17:35, UK
The major backer of Pinewood Studios is among the suitors vying to buy Village Hotels, one of Britain's biggest mid-market hotel chains.
Sky News understands that Aermont, which specialises in real estate-backed investments, submitted an offer last week for Village Hotels, which is owned by KSL Capital Partners.
City sources said that KSL was seeking offers worth in the region of £850m or more.
A number of other parties are also understood to have tabled bids ahead of a deadline last week.
Blackstone, the giant private equity firm, is considering making an offer but has yet to do so, according to insiders.
The auction is being handled by bankers at Morgan Stanley.
It comes months after attempts to sell Center Parcs UK were called off, while a mooted sale of Travelodge has so far failed to result in a deal.
Village Hotels comprises a portfolio of more than 30 properties from Aberdeen to Bournemouth, with rooms available at budget prices.
Founded in 1995 as Village Urban Resorts, the hotels feature pub-style restaurants and gyms.
KSL was reported to have paid £485m for the business when it bought it in 2014 from De Vere Group.
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The Denver, Colorado-based buyout firm has also owned other UK hotel chains including Hotel du Vin and Malmaison.
Aermont and Blackstone declined to comment.
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