Bespoke Hotels taken over the management of the Park Inn in Sheffield and renamed it the Sheffield Metropolitan.
The move comes after the Royal Bank of Scotland bought the 111-bedroom property back out of administration.
All former Park Inn employees have been retained including hotel manager Ian Slater, who has been with the property since 1999.
Bespoke is about to embark on a two-year renovation plan throughout the property, refreshing the public spaces and creating a contemporary brasserie-style restaurant and bar. The hotel's frontage and associated petrol station will also be revamped.
Bespoke now has over 90 hotels in its portfolio in the UK and abroad.
Robin Sheppard, chairman of Bespoke said: "At Bespoke, we take the essential character of each individual business and its environment, rather than trying to impose a one-size-fits-all approach. We pride ourselves on our hotels' individual and sometimes quirky personalities, but add what makes all Bespoke hotels special: a commitment to great service, a flair for hospitality and recognition that guests want to be treated like an individual, not a room number."
Ian Slater added: "We are well placed to meet the demand from visitors attracted by the city's busy social, sports and leisure scene," he said. "In addition, The Metropolitan caters for midweek conference and business visitors who are in need of good quality hotel accommodation at a reasonable price. We are already experiencing an uplift in bookings since we rebranded."