David Franks, founder of Regent Inns, has sold another 1m shares in the company for around £780,000.

Franks, who resigned as a non-executive director of Regent last year, also sold 1m shares in October. His latest sale still leaves him with 7.1m shares in the company, 7.84% of the total.

Regent shares are currently at half their 156p-a-share year's high.