TOPLAND SELLS HALLMARK HOTELS

The Zakay brothers’ Topland Group is selling its UK-based Hallmark Hotels platform, comprising a portfolio of 26 hotels with over 2,400 rooms and a head office, to a consortium of overseas investors, for a reported price of around £250 million. The buyers work with LGH Hotels Management, a UK-based hotel operator with currently three Crowne Plaza and eighteen Holiday Inn hotels managed under franchise agreements. Topland amalgamated the portfolio from its separate acquisitions of Menzies hotels, Hallmark hotels and the Feathers Group, bought between 2013 and early 2015, subsequently consolidating those three platforms into one.

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