TOPLAND Group is planning a further foray into the UK hospitality sector after launching a joint venture with Marick Real Estate and Mill Lane Estates.
The trio said yesterday they plan to target hotel developments across the UK starting with a new scheme called the Trafford City Hotel opposite the Trafford Centre shopping mall in Greater Manchester.
The group bought the 1.57 acre site from Peel Holdings and plan to turn it into a 203-bedroom hotel, with work due to start next year.
Topland, led by billionaire brothers Sol and Eddie Zakay, owns a portfolio of over 220 properties worth around £3bn. It also owns a around 40 hotels, including the five-star Royal Crescent Hotel in Bath.
The joint venture comes after Topland provided Marick with a £22m loan to build a 190-bedroom Hampton by Hilton hotel at London City Airport.