New sale plans for luxury hotels

The parent company of luxury hotel chains Hotel du Vin and Malmaison said today it was in talks to sell the businesses outright after abandoning plans to offload them to a tax-efficient hotel group.

Marylebone Warwick Balfour (MWB), the firm run by property magnate Richard Balfour-Lynn, announced it was beginning negotiations to sell both the operating business and property assets of the hotel chains.