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Dalata Hotel said it had completed contracts to acquire the operating and leasehold interest in the four-star Tamburlaine Hotel, located in Cambridge.
The hotel would be rebranded as Clayton Hotel Cambridge in the coming months.
Dalata would operate the hotel under a full repairing and insuring lease for a 30-year term, with index linked five-year rent reviews.
The landlord was the Ability Group, which had acquired the actual property.
'Cambridge has been a priority target city for our Clayton brand, and I am delighted that we have secured such a high-quality, modern hotel in the centre of the city,' deputy chief executive Dermot Crowley said.
At 3:51pm: (LON:DAL) Dalata Hotel Group Plc share price was 0p at 473.75p