News has learned that Blackstone has acquired an exclusive time to buy Village Hotels, which are being auctioned off by Morgan Stanley bankers.
The chain was valued at over £850 million when it was listed for sale earlier this year.
The information was made public a few days after News disclosed that Blackstone had submitted a bid for Village.
Aermont, Pinewood Studios’ principal investor, and Sixth Street, another US-based investment group, expressed interest in purchasing the business.
KSL Capital Partners is the owner of Village, a company that runs over thirty locations in the United Kingdom.
Its portfolio of properties offers affordable rooms at locations like Bournemouth and Aberdeen.
Originally established as Village Urban Resorts in 1995, the hotels have gyms and pub-style dining options.
The potential transaction comes months after plans to sell Center Parcs UK were shelved and after a proposed sale of Travelodge has not materialized into a deal thus far.
KSL reportedly paid £485 million to acquire the company from De Vere Group in 2014.
The buyout company, located in Denver, Colorado, has also owned Hotel du Vin and Malmaison, two more hotel chains in the United Kingdom.
