A new hotel group called Akkeron Hotels has been formed following the purchase of eight former Folio hotels.
The new group intends to build up a portfolio of up to 150 regional hotels across the UK.
The new group will own, lease and manage contracts on the various hotels.
James Brent, chairman of Akkeron, said: “The regional UK hotel market provides a real opportunity for a company such as ours which combines access to equity and debt finance, and management expertise and integrity.
“Akkeron Hotels has been set up to capitalise on current market conditions in the sector and the agreement with Folio has enabled us to synthesise Folio’s first class management team with our financial/financing expertise.
“Comprising a core team of professionals with skills and experience across operational hotel management, acquisitions, disposals, financing, legal and corporate finance, we believe that Akkeron offers a high-quality platform from which to develop a substantial UK-focused hotel business.”
Folio Hotels went into administration a year ago but was rescued by a management buy out.
The properties are aimed at a four-star market with a 60:40 mix of business and leisure guests.
The hotels bought by Akkeron are: Makeney Hall, Derbyshire (pictured); The Yorkshire Hotel, Harrogate; The Caledonian Hotel, Oban; Cedars Health and Leisure Club, Richmond-upon-Thames; and the Harte & Garter Hotel & Spa in Windsor.