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Topland has acquired Hallmark Hotels in a £75m deal as part of a plan to build a £1bn hotel business in the UK.
The acquisition, which comprises eight four-star hotels, takes its hotel portfolio to 30 hotels across the UK and adds 730 rooms and 600 employees to Topland’s overall business.
The firm currently employs around 2,000 staff, and existing hotels include Bath’s Royal Crescent Hotel, the Brighton Metropole, the Glasgow Hilton and a portfolio of Thistle Hotels.
Topland will add the Hallmark hotels to the platform of the Menzies portfolio acquired in November 2013 and the day to day operations will be managed by Bespoke Hotels.
Sol Zakay, chief executive at Topland group, said: “Securing this off-market transaction further cements Topland’s ability to effect hotel portfolio transactions to complement and further develop our existing hotel business.
Lionel Benjamin, director of hotels at Topland, said: “Hallmark Hotels’ success to date has been through a sharp acquisition strategy, a £16m refurbishment over the last four years and commencing the hotels’ repositioning in their respective locations and markets.”
