The Makeney Hall hotel in Derbyshire is the latest property to be saved after the collapse of Folio Hotels into administration last year.
Mulborn, which was formed after a management buy-out at 18 Folio hotels earlier this month, is to take on the lease and management of the Makeney, saving 79 jobs.
The hotel will continue to trade under the Folio Hotels banner as part of the deal.
Mike Stenson, general manager of Makeney Hall, said: "It's good news that an agreement has been reached and it is very much business as usual as far as we are concerned.
"We know that trading conditions will be tough over the next few months however we are sure that our customers will continue to support their local hotel.
"We will be honouring all the bookings that we have in the pipeline and are very keen to get some new business on the books as soon as possible."
Folio Hotels was forced into administration at the beginning of December 2008 after struggling to make its rent payments as the consumer slowdown lead to a slide in bookings.
Mulbourn is led by managing director Matthew Welbourn and finance director Alan Murray.
By Gemma Sharkey
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