Northpoint Living Developments acquired the Grade II listed Victorian building off a guide price of offers in excess of £900,000.
The hotel has been closed since January when the Royal Bank of Scotland placed the hotel in receivership, resulting in the loss of 35 jobs.
Julian Troup, head of hotels agency at Colliers International, which acted for the joint receivers on the sale, said: "There was a significant amount of interest in the George, not least because of its rugby league connection, but also because of its attractive Grade II listed Victorian heritage and its market potential. This has been a relatively speedy sale, achieved in tough market conditions."
Dr Altaf Hussain, a dentist and principal of Huddersfield Dental Care Centre as well as a director of Northpoint, intends to restore the hotel to its original splendour.
"Recognising the need to maximise its potential for commercial opportunities, the restaurant and coffee shop leasing will be investigated, with the intention of creating employment for local people in the running of the hotel," said Dr Hussain.
The Gillette Rugby League Heritage Centre was separately owned and was not part of the sale of the hotel.