The Samlesbury hotel in Preston, Lancashire, has been bought out of administration by KRO Hospitality in partnership with AccorHotels, saving 50 jobs.
The site, previously operated by Squire Hotels under the Best Western brand, was handed to administrators in April last year. The site will operate as the Mercure Preston Samlesbury hotel after a £1.5m revamp and relaunch in April.
Despite financial difficulties, the 80-bedroom hotel was last year voted the best in Lancashire. It features meetings and events space for 160 guests, as well as a restaurant and bar. The food and drink offering is expected to be overhauled as part of the relaunch, and will operate as the Five Barred Gate bar and grill, taking on the name of the pub which previously operated on the site.
Owner of KRO Hospitality, Kim Eivind Krohn, said: "We are delighted to welcome the Mercure Preston Samlesbury hotel to our portfolio. It is a fantastic hotel with enormous potential and is situated in an ideal location to attract business travellers and leisure guests alike.
"We have some very exciting plans for the hotel refurbishment and our new food offer, and we look forward to working with the Accor team to bring these to fruition.
"The hotel is of huge importance to the region. It was recently shortlisted in the Hotel of the Year category for the 2018 Lancashire Business Awards, a title it won in 2017, and we are very pleased that we can help ensure the hotel remains an important part of the community.
"We can also confirm there will be no disruption to day-to-day operation."
Cristina de Oliveira-Frewen, senior vice-president of franchise operations, AccorHotels Northern Europe, added: "The Mercure brand combines the strength of an international network with the flexibility to ensure each hotel is individually tailored to its local community, so it is a perfect fit for this award-winning hotel.
"We are thrilled to be partnering with KRO Hospitality to ensure the hotel achieves its full potential as a high-quality, authentic destination for leisure and business travellers and the local community."