Topland Group, one of Europe's largest privately owned investment groups, has revealed it has just bought the Hallmark Hotels portfolio for £75 million.
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div>Topland Group, one of Europe’s largest privately owned investment groups, has revealed it has just bought the Hallmark Hotels portfolio for £75 million.
As part of its plan to build a £1 billion hotel business empire, the investment firm bought the eight, four star hotels from Bridgepoint in an off-market transaction. Bridgepoint, the private equity group, acquired Hallmark Hotels in 2007 for £55 million and over the past few years, has upgraded several of the hotels from three stars to four.
Topland already owns 22 hotels across the UK, including the Royal Crescent Hotel in Bath, the Brighton Metropole and six Thistle hotels - the most recent acquisition taking its ownership to 30 hotels.
The Hallmark Hotel chain consists of eight, four star hotels, each of 730 rooms with 600 employees across the UK.
Just a couple of days after the purchase, Topland announced that in 2015, it plans a £1 billion floatation with its hotel portfolio on the London Stock Exchange.
Currently valued at around £500 million, the Topland portfolio may increase through the acquisition of two hotel chains in Europe, taking the portfolio’s value to over £1 billion.
Topland is one of the UK’s largest private real estate companies and the Hallmark acquisition follow the intention to substantially grow Topland’s hotel holdings. This acquisition brings Topland’s ownership to over 3,000 UK hotel rooms .
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