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Jarvis Hotels has sold 24 of its 28 hotels to a new company called Jupiter Hotels through a pre-pack administration, and they will be rebranded from Ramada to Accor's Mercure franchise.
Jarvis Hotels, the chain of 67 hotels, is planning to undergo a £153m management buy-out backed by Lioncourt Capital.
Jarvis Hotels is planning to double the size of the 91-bed Ramada Jarvis hotel in Glasgow, at a cost of £7m.
Jarvis Hotels is planning to expand its hotel chain from 65 to more than 120 over the next three years, and will start to include serviced offices and other business facilities.
Jarvis Hotels has bought the 120-bedroom Lakeside Hotel at Swansea Enterprise Park from the Hilton Group for £3.7m, and the property will be refurbished and rebranded as the Jarvis International Swansea.