Ken McCulloch, founder of the Malmaison hotels, is poised to launch a chain of budget boutique hotels in Europe and the US. £100m has been raised for Inn Coach, a mid-market concept to take on the likes of Hilton and Posthouse, and there are plans to open 100 outlets over the next three years. Fellow partners include Formula One racing driver David Coultard and US real estate developer Peter Morris, who have helped raised around $100m from private backers in the USA where the hotels will be first launched. The partners are working on a similar fund for the UK. Sites under negotiation in the UK include Reading, Yorkshire, Edinburgh and Glasgow, and the first UK outlet is scheduled to open in Arizona next spring. With a focus on contemporary design, the boutique-style hotels will lack the frills of porter service and swimming pools to be able to offer stylish accommodation for under £100 a night. Meanwhile, McCulloch is also planning to expand his Columbus concept which opened in Monaco this year. Further sites are planned in Europe and USA over the next few months.
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