• Topland bags Menzies

Investor Topland has bought the Menzies hotel business along with 12 of the group’s hotels, paying more than the GBP80m price sought by agent Christie + Co. Properties in Luton, Gatwick and Swindon are not included in the deal and are to close.

Topland has appointed Bespoke to manage the hotels, which between them number more than 1,500 rooms. Menzies went into administration in May, after parent Cordial Hotels defaulted on a GBP165m loan.

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