The Eton Collection, owner of five hotels including Threadneedles in the City of London, has been bought by hotel operator JJW Luxury Collection for £70m.
The move triples The Eton Collection's portfolio from five hotels in the UK to a total of 15 properties throughout Europe, including The Berners Hotel off Oxford Street, London, The Scotsman in Edinburgh and Hotel de Vigny in Paris.
The new company, which under the ownership of JJW becomes part of global business group MBI International, will be headed up by The Eton Collection's Peter Tyrie, as managing director.
He said: "The agreement is mutually beneficial in that we have the opportunity to expand The Eton Collection outside the UK, whilst providing JJW with our knowledge and expertise in the luxury boutique hotel market.
"I am confident that we can make the enlarged business work even better for both parties. The enlarged group will be a perfect fit in that they share the characteristics that have been integral to the success of The Eton Collection portfolio to date."
By Daniel Thomas