Frasers Hospitality, part of Singapore’s property company Frasers Centrepoint, may acquire several British properties in a four-hotel deal that could reach £36.1 million.
Frasers is buying Swire Properties Hotels Holdings through its recently acquired Malmaison and Hotel du Vin Property Holdings Limited business. According to Southwest Business, the company does not plan to rebrand its hotels.
The portfolio includes the Avon Gorge Hotel in Bristol, Magdalen Chapter in Exeter, Montpellier Chapter in Cheltenham, and the Hotel Seattle in Brighton. The hotels will continue to operate under their existing names until 2016 when development plans will be revealed for each of the hotels.
The acquisition follows Frasers Hospitality’s recent purchase of the Malmaison and Hotel du Vin group, which includes 29 upscale lifestyle boutique hotels for £363.4 million in June this year. The move was said to provide Frasers Hospitality a platform to further expand into the fastest growing hospitality segment. The patent company already has total assets surpassing S$23 billion.