The hotel portfolio comprises 15 Holiday Inns and two Crowne Plazas located across the UK including in Leeds, Leicester, Reading, and Southampton.

Reed Smith Financial Industry Group partner Iain Balkwill said: “We are delighted to have supported Marathon on this significant acquisition involving two of the most recognised hotel brands in the UK. This transaction represents a welcome investment in the UK hospitality industry following the challenges faced by the COVID-19 pandemic.”

The Reed Smith team, who advised on the purchase and financing of the acquisition, was led in London by Iain Balkwill (finance), Daryl Cue (corporate), and Brigid North (real estate).

In December 2019, Reed Smith advised long-running client Marathon on the sale of a portfolio of 17 IHG and Hilton-branded hotels to Thai investor DTGO Corporation.