Topland buys 8 hotels in England

In a transaction that is says reflects the improving British economy’s effect on hotel performance outside of London, Topland Group bought the Hallmark Hotels portfolio, which includes eight hotels in England, for £75 million (US$28.5 million) from Bridgepoint in an off-market transaction.

The purchase by Topland Group, London, of the Hallmark Hotels, Leeds, England, portfolio comes just seven months after Topland bought the parent company of Menzies Hotels out of administration for about £85 million (US$139 million).

Topland told HOTELS that it is aiming to develop a portfolio that could reach £1 billion (US$1.7 billion) in value.