The Forbury hotel in Reading, run by administrators Baker Tilly since March, has been snapped up by luxury hotel group Von Essen.
The 24-bedroom hotel in the heart of the city will be the first hotel within the group's newly formed Metropolitan Set and will be joined by Hotel Verta when it opens in London early next year.
Andrew Davis, chairman of von Essen, said: "A key strategic objective for the collection is to acquire properties in the UK’s principal cities – The Forbury is a fitting first hotel in this set and a valuable addition to the von Essen portfolio."
Administrators had run the hotel, which opened in 2006 after a £6m refurbishment, since March this year with the intention of selling it on.
Chef Daniel Galmiche, who opened a 20-cover fine dining restaurant called Eden at the Forbury, is set to leave there this month to replace John Campbell at the two Michelin-starred Vineyard at Stockcross.
It is not yet known who will replace him at Eden or who will be behind the stove at the hotel's brasserie Cerise, but Von Essen said it hoped to continue the group's 'tradition of excellence in their F&B offering'.