The Welbeck Hotel in Nottingham city centre has been bought out of administration by Roomzzz Aparthotel.
The purchase of the 96-bed hotel marks the first move into the Midlands for the Roomzzz, which has its headquarters in Leeds.
The Wellbeck Hotel is now set for an extensive refurbishment and renovation programme which will start in January 2015 and create 106 luxury Aparthotel rooms, including three penthouses. The new Nottingham City Aparthotel is scheduled to open in April next year.
Until the refurbishment begins, Roomzzz will continue to operate the Nottingham city centre premises as a hotel, but its restaurant is set to close.
All current staff will transfer under TUPE to the new owners during the consultation process. A further four employees will remain employed by Roomzzz in Nottingham.