The 63-bedroom International hotel in Derby has been sold off an asking price of £2.5m through the Nottingham office of Christie + Co.
The new owner is Sumit Sabharwal, who owns another hotel in the south and is in the process of buying a third through Christie + Co's Birmingham office.
The hotel is near Junction 25 of the M1, half a mile from Derby town centre andclose to local attractions such as the Peak District National Park, Chatsworth House stately home, Alton Towers theme park, and Donnington Park motor racing course
The three-star hotel splits its bedrooms (which range from single rooms to suites with Jacuzzi bathrooms) between the main building and the West and East Lodges.
Facilities include a lounge bar, the 70-seat Blue Wave Brasserie, and three function rooms that can be merged into a single space for up to 350 delegates.
The property also has parking for 80 cars and a separate house next door that is used by staff and for storing stock.
By Angela Frewin