UK privately owned investor Topland has exchanged contracts to acquire the family-run Feathers Group, a portfolio of eight hotels with 726 bedrooms across North West England.
UK privately owned investor Topland has exchanged contracts to acquire the family-run Feathers Group, a portfolio of eight hotels with 726 bedrooms across North West England.
The acquisition, which is due to complete later this month, is part of Topland’s strategy to expand its leisure division through owning and operating regional hotels.
Topland has now spent £200 mln on 28 hotels in the last 13 months with more acquisitions in the pipeline.
The Feathers portfolio was bought in an off-market transaction and includes hotels in Liverpool, Chester, Preston and Manchester. It expands Topland’s existing hotel interests of owned and managed hotels, including The Royal Crescent Hotel in Bath, Menzies Hotels and Hallmark Hotels.
Topland’s owned and managed portfolio now stands at 29 hotels approaching 3,000 rooms. In addition, the group has leased nine hotels: five to Thistle in London and another in Edinburgh, Hilton Glasgow, Hilton Brighton Metropole and the Ramada in Mill Hill.
The Feathers Group was advised by law firm Brabners in Manchester and the corporate finance team at Deloitte in Nottingham. Topland was represented by Dentons and BDO.
