Independent hotel franchisee London Town Hotels has bought the 95-bedroom London Crown hotel near Paddington station for a rumoured £15m.
The deal includes two restaurants on the ground floor that are leased to McDonald's and Garfunkel's.
The property will undergo a £2m renovation, transforming it into a contemporary hotel with high-speed internet access and other state-of-the-art facilities.
London Town Hotels, which operates properties under the Quality, Comfort, and Country Inns & Suites brands, already owns the Quality Hotel Paddington in nearby Talbot Square.
The group said it had been approached by several major hotel brands which wanted to run the newly acquired hotel under their flags and that it would make a final decision on its franchise partner soon.
Source: Caterer & Hotelkeeper magazine, 12 August 2004