The sale of the hotel group’s venues division, which has been valued at £280m, includes around 30 properties and can cater for 700,000 delegates per year.
The Sunday Times highlighted the deal had yet to be agreed with further interest received from private equity firm TDR Capital.
The sale process began in April with .
De Vere’s venue portfolio consists of the Ricoh Arena in Coventry, the East Midlands Conference Centre, and Grade I-listed Chicheley Hall, near Milton Keynes.
Lazard declined to comment regarding the sale of De Vere Venues and Starwood Capital.
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