Boutique hotel group sells up to fund its bigger projects

THE company that owns Malmaison is to sell two of its properties in Edinburgh and St Andrew's with a view to expansion.

The original Malmaison in Leith and the St Andrew's Golf Hotel are being put on the market for 15m and 6m respectively by MWB group holdings. The boutique hotel group intends to open new hotels in the capital and Aberdeen.

Robert Cook, Malmaison and Hotel du Vin's chief executive, said: "Scotland is the original home of Malmaison and our most successful region last year.

"It is our intention to continue expansion north of the Border with a new look, larger Malmaison in Edinburgh and a Hotel du Vin in Aberdeen, where our new Malmaison in the city has already experienced great success in its first year."

David Reid, of Knight Frank, which is acting on behalf of the sellers, said: "We're delighted to be working with Malmaison Group to market both hotels.

"It's rare for such high-profile businesses to come on the open market and as they are very competitively priced I would expect them to appeal to a variety of hoteliers, developers and worldwide investors alike."

"Malmaison needs to offer its loyal fan base the latest in cutting-edge design and hospitality to maintain its position as the UK's leading design-led boutique hotel group.

"We can achieve this by finding new opportunities."