Privately owned investment firm, Topland Group is set to acquire the family owned Feathers Hotel Group, which has a portfolio of eight hotels across the North West.
Contracts have been exchanged and the deal is expected to be completed at the end of the month.
It will see Topland acquire hotels in Manchester, Liverpool, Chester, Preston and Warrington, comprising of a total of 726 bedrooms.
Topland Chief Executive, Sol Zakay said, 'Our intention is to invest further in our existing hotels to strengthen performance, and to deploy significant further capital in new opportunities to grow the portfolio.'
Feathers Group Chairman, Paul Feather said, 'Although this is the end of an era for us, it is the start of an exciting new phase for the business under Topland’s ownership and we wish them all the success for the future.”
The acquisition will take the Toplands portfolio to a total of 38 hotels which includes 29 owned and managed hotels as well as nine hotels the company leases.