A new standalone luxury hotel group is set to be launched in Europe following the acquisition of The Scotsman Hotel Group by MBI International for £63m.

MBI, which operates a portfolio of 55 hotels in Europe and the Middle East - ranging from economy brands to luxury properties and including JJW Hotels & Resorts - has announced plans to create the new chain which could see the three luxury properties formerly owned by The Scotsman Hotel Group - the five-star Scotsman Hotel in Edinburgh, 42 The Calls boutique hotel in Leeds and La Tremoille, situated close to the Champs Elysees in Paris – linked with hotels such as Berner’s Hotel in London, which is currently undergoing a £32m refurbishment.

MBI is also expected to invest in the expansion of both the Escape Health Club & Cowshed Spa and the number of bedrooms at The Scotsman.

Chair and CEO of MBI International, Mohamed Bin Issa Al Jaber, said: “We are delighted by this acquisition which expands our operations in the UK and France and advances the group’s focus on the development of our activities in the luxury sector.”

The sale was negotiated by London-based Christie + Co.

Photograph: La Tremoille, Paris