Topland sells Hallmark Hotels for £250m

The Zakay brothers' Topland Group has sold its Hallmark Hotels business to a consortium of overseas investors for around £250m.

An Israeli investment fund working with LGH Hotels Management has bought the 26-strong portfolio.

Following the purchase of 12 Menzies hotels in November 2013 for around £80m, Topland bought the eight-strong Hallmark group in July 2014 in a £75m deal, with the addition of a further eight hotels from the Feathers group acquisition in January 2015. Topland later merged the three portfolios under the Hallmark brand.

Topland is left with eight hotels including Bath's Royal Crescent hotel, the Brighton Metropole, the Glasgow Hilton and a number of properties operating under the Thistle brand.

In a statement Topland, which is run in the UK by Sol Zakay, said it was "actively looking for new opportunities on individual or portfolio hotel acquisitions, hotel development, hotel financing and hotel joint ventures as well as to expand the current portfolio of Hilton and Thistle hotels".

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