Topland Group, a privately owned international investment company, has announced that it has acquired the Menzies Hotels group for about £85m.
As part of the deal, Topland has acquired 12 hotels and Bakum House, Menzies Hotels’ freehold head office in Derby.
The acquired portfolio, which is mostly four-star, is distributed across the UK, from Aberdeen to Bournemouth, and ranges in size from the 18-bedroom Flitwick Manor, Bedfordshire, to Menzies Aberdeen airport, which is one of Aberdeen’s largest hotels with 212 bedrooms.
Topland Group chairman and chief executive Sol Zakay said the acquisition of Menzies Hotels will provide an additional platform for the company to drive forward its 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," Zakay added.
Topland noted that the jewel in the crown of the newly acquired portfolio is the world-renowned Menzies, Stratford-upon-Avon, a landmark Grade II Jacobean style country house hotel with 78 luxury bedrooms and set in 157 acres of beautiful parkland and magnificent gardens, in the shadow of the Welcombe Hills.
The hotel also features seven timeshare suites and apartments, fine dining, a luxury spa, health club and a golf course.
Topland has selected Bespoke Hotels to operate the group, taking its portfolio to over 100 hotels.
Bespoke Hotels CEO Haydn Fentum said, "We are delighted to be working with the many talented people within the existing Menzies portfolio and are looking forward to building a strong new relationship together."
Topland’s portfolio also comprises Bath’s Royal Crescent Hotel, the Brighton Metropole, the Glasgow Hilton and a portfolio of Thistle Hotels, six in central London and one in Edinburgh.
