The Hotel Indigo in Birmingham has been sold to the Caskade Group off a listed price of £12.5m.
The property features 52 rooms, a Marco Pierre White-branded restaurant, and a whiskey and cocktail lounge.
It was designed by Ken Shuttleworth of Make, who was involved in the construction of the Gherkin building in London.
The hotel, which opened in 2010, is located in the Cube, a 25-storey mixed-use development which features 135 residential apartments, 111,500 sq ft of offices, a ten-pin bowling centre and extensive underground parking.
Hugh Anderson, director of hotel and leisure at Graham + Sibbald, who conducted the sale on behalf of the Caskade group, said: "It is testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham's most iconic buildings.
"We have worked collaboratively with the current operators, Kroll and the purchasers to secure a sale".
Hamid Ali, CEO and chairman of Caskade Group, added: "We are delighted to be investing in Birmingham and have exciting plans for the Hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer".
The Caskade Group is a franchise company founded in 1984, which operates a number of KFC restaurants in the UK.