Having put itself up for sale in July after its parent company, Cordial Hotels, went into administration, the Menzies Hotels Group has been sold by KPMG to the Topland Group.

The deal, handled by Christie + Co. and said to be worth between £80-85m, includes the freehold of Menzies' twelve hotels - two in both Birmingham and Bournemouth plus one each in Aberdeen, Cambridge, Derby, Glasgow, Irvine, London, Stratford-upon-Avon and Woburn - and its head office building in Derby.

The properties range in size between 18 and 212 rooms - Flitwick Manor in Woburn and Aberdeen Airport respectively - and include Menzies' flagship hotel, the 78-room, Grade II* listed Welcome Hotel Spa and Golf Club in Stratford. The deal also secures the ongoing employment of 1,130 Menzies employees.

A further three Menzies hotels - at Gatwick, Swindon and Luton and which operated under shorter-term lease agreements - will be closed and their staff made redundant.

Rob Croxen, KPMG partner and joint administrator, said: “We have worked closely with stakeholders to secure the best possible outcome for creditors. After reviewing a number of options, it became clear that a pre-pack sale of the business and the freehold properties would provide the greatest return to creditors, while also preserving the majority of jobs across the business."

Bespoke Hotels have been appointed by Topland to operate the group, a move which will increase Bespoke's portfolio to around 100 properties across the UK.