DE VERE PORTFOLIO SOLD TO QHOTELS BACKERS

Six former De Vere Hotels and De Vere Luxury Lodges in the UK have been purchased by Sankaty Advisors and Canyon Capital Advisors, the backers of QHotels. The 132-room Cameron House, in Loch Lomond, Scotland; the 169-room Dunston Hall, Norwich; the 152-room Oulton Hall, Leeds; the 131-room Mottram Hall, Macclesfield; the 141-room Slaley Hall, Northumberland; and the 136-room Belton Woods, Lincolnshire, are to become part of the QHotels portfolio over the next few months, brining the QHotels chain up to 27 properties. The sale price was undisclosed but it is thought to be in the region of £160 million. The deal completes the sale of the De Vere Group, following the disposal of De Vere Venues to Starwood Capital Group and sale of the Malmaison, Hotel du Vin and Village Urban Resorts chains to KSL Capital Partners.

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