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Effective URL: https://news.sky.com/story/blackstone-in-exclusive-talks-to-buy-850m-village-hotels-chain-13147639
Submission: On June 09 via manual from IN — Scanned from DE
Effective URL: https://news.sky.com/story/blackstone-in-exclusive-talks-to-buy-850m-village-hotels-chain-13147639
Submission: On June 09 via manual from IN — Scanned from DE
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Skip to content Sky News - back to home 9 Jun 18° 12° Watch Live * Home * Election * UK * World * Israel-Hamas War * US * Climate * Science & Tech * Business * Ents & Arts * Offbeat * Travel * Analysis * Data & Forensics * Videos * Programmes * Weather More * Home * Election * UK * World * Israel-Hamas War * US * Climate * Science & Tech * Business * Ents & Arts * Offbeat * Travel * Analysis * Data & Forensics * Videos * Programmes * Weather BLACKSTONE IN EXCLUSIVE TALKS TO BUY £850M VILLAGE HOTELS CHAIN One of the world's largest real estate investors has entered exclusive talks to buy the mid-market hotel chain, which trades from about 30 sites across the UK, Sky News understands. Mark Kleinman City editor @MarkKleinmanSky Tuesday 4 June 2024 10:21, UK Image: Pic: Village Hotels * * * * Why you can trust Sky News Blackstone, the giant private equity investor, is in exclusive talks to buy one of Britain's biggest mid-market hotel chains. Sky News has learnt that Blackstone has entered a period of exclusivity to acquire Village Hotels, which is being auctioned by bankers at Morgan Stanley. The chain was put up for sale earlier this year with a valuation of about £850m. The news comes just days after Sky News revealed that Blackstone had tabled an offer for Village. Sixth Street, another US-based investment firm, and Aermont, the majority backer of Pinewood Studios, were also interested in buying the company. Village, which operates more than 30 sites across the UK, is owned by KSL Capital Partners, another buyout firm. Its portfolio of properties includes sites in Aberdeen and Bournemouth, with rooms available at budget prices. MORE FROM BUSINESS * Motors.co.uk lines up deal to buy stricken car marketplace Cazoo * Cineworld plots blockbuster sale of British cinema operations * Donald Trump in breach of £300,000 legal costs ruling after losing UK dossier case against former MI6 spy Founded in 1995 as Village Urban Resorts, the hotels feature pub-style restaurants and gyms. The prospective deal 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. Advertisement KSL was reported to have paid £485m for the business when it bought it in 2014 from De Vere Group. The Denver, Colorado-based buyout firm has also owned other UK hotel chains including Hotel du Vin and Malmaison. Be the first to get Breaking News Install the Sky News app for free Blackstone declined to comment. SKY NEWS FOOTER * Facebook * X * YouTube * Instagram ABOUT SKY NEWS * About Us * Sky News Profiles * Sky News International * Sky News Library Sales * Site Map * Editorial Guidelines * Sky News Board SKY NEWS SERVICES * Sky News RSS * Sky News For Your Phone * Sky News Radio SKY CHANNELS * Sky Witness * Sky Atlantic * Sky Arts * Sky Cinema * Sky Sports MORE SKY SITES * NOW * Sky Zero * Sky Academy Studios * Bigger Picture * Sky Group * Sky Bet * Sky.com * Sky News Arabia * Advertise With Us * Terms & Conditions * Privacy & Cookies * Privacy Options * Accessibility * Contact Us © 2024 Sky UK