A new company called Atlas Hotels has been formed following the merger of Somerston Hotels and Morethan Hotels.
The move follows the recent acquisition of Somerston Hotels by private equity firm Lone Star. Morethan Hotels, already owned by Lone Star, was previously managed by Somerston Hotels.
In a new multiple development agreement with IHG, the current franchise agreement has been extended by 15 years and plans have been put in place to develop a minimum of 1,000 additional IHG bedrooms by the end of 2018.
Atlas Hotels also plans to continue to develop additional Hampton by Hilton hotels with Hilton Worldwide.
Ultimately, the company aims to have a portfolio of more than 60 hotels and 7,500 rooms.
Atlas Hotels will continue to be operated by the former Somerston Hotels management team, led by managing director, Keith Griffiths, who said he was delighted that the two portfolios were being combined under a new name.
"The values and identity of the company will remain as strong and clear as they have always been and our mission continues to be one of achieving success by putting guest experience and satisfaction at the heart of our business.
"We will now embark on further growth through building out our substantial development pipeline, while also keeping a look out for acquisition opportunities," he said.