Jarvis Hotels confirmed rumours this week that it has been put up for sale by its owner, venture capital firm Lioncourt Capital.
The Irish property developer, which bought the 60-strong Jarvis chain only 18 months ago for £229m, is believed to be looking for offers in the region of £200m.
The drop in price is a result of the sale of its flagship property, the 377-bedroom Ramada Plaza Regents Park in London, earlier this year for about £60m.
It has also sold the Bear hotel in Hungerford, Berkshire, for £3m to Considered Hotels, and has put the Ramada Ye Olde Bell near Maidenhead, Berkshire, on the market last month with a price tag of between £8m and £10m.
Jarvis Hotels' chief executive Richard Thomason said: "We can confirm that Jarvis Hotels has received a number of unsolicited approaches for the company." He admitted the company was now evaluating its strategic options.
An industry insider said: "The fact that a company is able to go back to the market so shortly after the original transaction at a profit shows the extent to which the industry's buoyant financial circumstances are continuing to grow."