Dublin based Dalata Hotel Group has accepted a revised £1.2 billion bid for the business.
Property firms Pandox and Eiendomssparm both Scandinavia based, will acquire the business after upping their initial bid.
The Dalata board has accepted the deal which will see Pandox partner, Scandic Hotels Group, as new operating partner.
Dalata has 55 hotels in the UK, Ireland and Europe under the Clayton and Maldron brands.
“This represents an exciting new chapter for Dalata in which we will become part of a larger hotel platform and will further accelerate our growth,“ said Dermot Crowley, CEO of Dalata.
Earlier this year, Dalata signalled it was open to potential offers as it announced a strategic review of the business.
