The Sloane Hotel in Chelsea, London, has been sold for more than £7.5m.
The 20-bedroom Victorian property has been bought by Italian hotel group San Domenico and will be known as San Domenico House.
A spokesman for Knight Frank, who handled the sale, said: "Interest for the Sloane Hotel predominantly came from European hoteliers looking for a presence in London."
Valuable antique furniture and art was included in the deal.
The group, which is owned by the Italian Melpignano family, also owns the Masseria San Domenico hotel near Brindisi, southern Italy, a member of the Leading Small Hotels of the World.
A spokeswoman for the company said: "We plan to refurbish the rooms and the lounge and all staff will be kept on."
Rooms will range from £165 to £280 per night.
By Tom Bill
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