Starboard Hotels has acquired the 130-bedroom Holiday Inn Express, Leeds Armouries from Stellar Leeds for more than £8m.
The sale, which completed today (4 May), sees the firm's hotel portfolio increase to 10 properties, three of which are now in Yorkshire.
The city-centre Holiday Inn Express, located close to Clarence Dock and the Leeds Armouries museum, is set to be part of the Leeds South Bank regeneration area.
Paul Callingham, managing director of Starboard Hotels, said: "This is a strategic acquisition for Starboard, being our 10th hotel, our third Holiday Inn Express and our third hotel in Yorkshire. We are delighted to be expanding further and welcome the Holiday Inn Express Leeds on board.
"It is a great hotel in a superb location and has an excellent reputation, which we will continue to develop. Furthermore, the regeneration plans for the area mean our investment has come at exactly the right time for the hospitality sector in the city.
"We believe we can add significant value to the hotel offering in Leeds. This is a thriving city with a vibrant, unique mix of business and retail commerce in addition to its growing student population."
The purpose-built Holiday Inn Express, which was constructed in 2006, features a restaurant/bar and three meeting rooms. Starboard is taking over the business on a long leasehold with the existing team, led by general manager Lisa Sutcliffe, remaining in place.
The hotel will continue trading as a Holiday Inn Express and will be operated by Starboard Hotels under franchise from InterContinental Hotels Group (IHG).
In addition to the Holiday Inn Express hotels in Burnley, Greenock and now Leeds, the company also owns the Best Western Carlton Blackpool, Days Inn Wetherby and Ibis hotels in Sheffield, Birmingham, Leicester, Plymouth and Gatwick, taking the number of beds to more than 950 with a property portfolio worth in the region of £50m.
Starboard Hotels is an owner and operator of franchised hotels under brands such as Holiday Inn Express (IHG), Days Inn (Wyndham), Best Western and since June 2015 AccorHotels.