Another private equity owner is inching towards the sale of a UK hospitality portfolio.
According to Sky News, KSL Capital Partners has appointed bankers at Morgan Stanley to run the auction for its Village Hotels chain of properties.
News first appeared in May that KSL was looking to sell up and the fact that another update has leaked indicates that a process of some sort is underway.
Whether or not KL sells probably depends on whether anyone can come close to its asking price – a challenge in the current climate given the difference between buyer and seller expectations.
KSL bought the chain of 33 hotels in 2014 from De Vere Group for £485 million in 2014.
Brookfield, the owner of Center Parcs UK is also looking to sell up
KSL Capital declined to comment.