Topland has bought the parent company of Menzies Hotels out of administration for £85m.
The deal will see Topland acquire 12 four-star hotels across the UK, including Flitwick Manor in Bedfordshire and the 212-bedroom Menzies Aberdeen Airport.
Topland has appointed Bespoke Hotels as operator of the portfolio.
Topland chairman and chief executive Sol Zakay said: “This acquisition was an exceptional opportunity to acquire a profitable, highly rated hotel group which provides an excellent additional platform for us to drive forward our strategy of building a £1bn hotel platform. The group as a whole is entering a particularly active phase across a number of fronts, including property investment and property lending.”
The company already owns a number of UK hotels, including Bath’s Royal Crescent Hotel, the Brighton Metropole, the Glasgow Hilton and a portfolio of Thistle Hotels.
Law firm Osborne Clarke advised Topland.
sophia.furber@estatesgazette.com
