Jarvis Hotels has sold its Ramada hotel in Loughborough to BV Hotels for the asking price of nearly £4m.
The Leicestershire-based city centre property has 78 bedrooms, conferencing for up to 150 and a 65-seater restaurant.
The hotel was one of the properties put on the market by Jarvis because it no longer fitted their portfolio profile.
BV Hotels is a new joint venture between Edinburgh-based hoteliers Navin Varma and James Barlow. The hotel will continue to be run as a Ramada. Property agents Savills conducted the deal.
Jarvis announced this week that it has been put up for sale by owner Lioncourt Capital, which is looking to make £200m from the sale of the 60-strong estate.
Lioncourt paid £239m for the chain 18 months ago. The price drop is a result of the sale of Jarvis's flagship Ramada Plaza Regents Park in London, earlier this year.
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