A Kent hotel is under new ownership after one of the UK’s largest hospitality groups sold up to a group of US investors.

The Village Hotel in Maidstone is now controlled by private equity firmKSL Capital Partners after it swooped the Village Urban Resorts chain previously owned by De Vere.

The deal includes 25 properties across the UK and another three which are under construction.

The sale completes the De Vere board’s strategy to “build and crystallise value”, which has delivered sale proceeds of more than £1bn since a financial restructuring in 2010 and “effectively also saved several thousand jobs”.

The strategy was implemented after creating a new board in 2011.

Chief executive Andrew Coppel said: “We are delighted to have achieved this overall result.

“The support of Lloyds Bank in particular from late 2011 was critical, as this enabled the team to build value within three quality businesses and realise premium prices on disposal.

“To generate over £1bn of sale proceeds in challenging market conditions reflects well on the team. It represents a vindication of our strategy and the Lloyds Bank’s confidence in the company.

“Village Urban Resorts is now in great shape and has forward momentum with the openings in December and the New Year of properties in Aberdeen, Edinburgh and Glasgow.

“Its future is positive, undoubtedly enhanced by KSL’s commitment to invest substantially in the existing portfolio and pipeline.”

De Vere announced last week it had completed the sale of six golf resorts and also sold the Grand Hotel in Brighton in April.

The company said that overall pre tax losses of £79,000 announced for the six months to the end of March this year “were better than management expectations”.

The Village Hotel in Maidstone is found just off Junction 6 of the M20 and has 122 rooms, nearly 350 parking spaces, a health centre, gym, a 25m swimming pool, Starbucks, Verve Bar & Grill and Victory pub.