The four-star Stanneylands hotel in Cheshire has been sold to the Mere golf resort and spa, also in Cheshire, for £4.15m, after former owner Prima Hotels went into administration in May.
The 55-bedroom property has been acquired by new owners chief executive Mark Boler and chairman Gary Corbett, who have been looking for a second site to expand their portfolio over the past 12 months.
The venue is expected to reopen as a boutique country house hotel after an investment and refurbishment programme of the guest rooms, public areas including the two-AA-rosette restaurant and Calico Café Bar, and extra staff training.
The Prima Hotels administration saw four hotels in total go on sale, with the other three comprising Nunsmere Hall in Cheshire, Hellaby Hall in Rotherham, South Yorkshire, and the Quorn Country hotel in Leicestershire.
Nunsmere's sale for £5.35m to the Highwater Estates was announced only yesterday.
Legacy Hotels and Resorts had been running the properties on behalf of the administrators.
New co-owner Corbett said: "The strategic acquisition of the Stanneylands allows us to transfer the operational and customer experience that we are renowned for delivering at the Mere to the Stanneylands.
"Coupled with our plans to improve the product and services on offer, we are confident that this will delight existing guests as well as attract new customers. The Stanneylands product and reputation is a perfect fit to spearhead our ambition to grow the operation of the Mere brand."
Boler added: "We're delighted to be the new owners of the Stanneylands; a hotel that has an amazing history and reputation in the local market. We are really excited about the investment planned, getting to know the team and in restoring this hotel to its former glory."
The Mere golf resort and spa was purchased by the Boler family in 1984, who completed a £15m refurbishment of the site in 2012.