KSL Capital Partners is pushing ahead with a sale of mid-market hotel chain Village Hotels.
The hedge fund, which selected Morgan Stanley to advise it on options for the chain last year, is seeking around £800m for the business.
KSL bought the then 25-strong hotel chain from De Vere in 2014 for £485m. It has since grown the group to 33 hotels comprising more than 3,000 bedrooms.
