MWB to sell hotel portfolio?
Property group Marylebone Warwick Balfour (MWB) is rumoured to be looking for a buyer for its 22 Malmaison and Hotel du Vin hotels in the UK.
According to The Times, the group is looking to offload the sites for around £650m.
MWB put the hotel portfolio on the market in May 2007, but withdrew the properties In November due to the credit crunch and the deterioration in property prices.
MWB currently has four hotels under development and previously announced plans to increase the number of operating hotels to 30 by the end of 2009.
Earlier this year MWB acquired the renowned St Andrews Golf Hotel on The Scores overlooking St Andrews Bay in Scotland for an undisclosed sum.
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