The 27-strong QHotels group has been put on the market for £650m.
The sale comes four months after the hotel group bought De Vere Hotels, which included the five-AA-star Cameron House, on Loch Lomond.
According to reports in The Times, QHotels' private equity owners are now seeking a buyer for the collection of hotels.
Sankaty Advisors and Canyon Capital Advisors bought QHotels last year and took on its £370m debt.
QHotels was founded in 2003 by Michael Purtill as Quintessential Hotels. It now comprises 27 properties, including the Midland in Manchester and Slaley Hall in Northumberland.