Marylebone Warwick Balfour (MWB) has reportedly received a £685m bid for the Malmaison and Hotel du Vin chain from an Irish bidder.
According to a report in Estates Gazette the PREM Group, Ireland's largest hotel developer, is tipped as the prospective buyer.
MWB appointed the Bank of America to find a buyer for the hotel chain early last month after the failure of Vector Hospitality to float as a Real Estate Invesment Trust (REIT) and to acquire the properties.
The 21 hotels are expected to be bought by a property investment firm on a sale and leaseback basis, with MWB continuing to manage them.
By Tom Vaughan
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