Marylebone Warwick Balfour has started to sound out potential purchasers of Malmaison and Hotel du Vin, its boutique hotel chains - for the third time in 18 months - with a combined asking price of more than £650m.

The Times understands that Bank of America, which was first appointed by MWB to advise on a sale just over a year ago, has quietly started to recontact interested parties in recent weeks, although it is canvassing interest in the two brands separately rather than as a single package.

Industry sources claim that MWB is looking for about £350 million for the Malmaison chain and at least £300m for Hotel du Vin.

The Times