The 198-room hotel on Downing Street, is being marketed for sale by specialists Christie & Co on behalf of administrators Grant Thornton.
Situated close to the city's King’s College Chapel, the hotel includes the restaurant Bloomsbuy’s, a gym and sauna and 3,500 sq ft of meeting room space capable of hosting a reception for 300 guests.
Alex Campbell of Christie & Co said: “The Crowne Plaza Cambridge benefits from superb visitor and tourist trade as well as offering first-class corporate meeting room facilities. It presents a fantastic base for guests to explore the delights of this wonderful collegiate city.
"This, along with the limited supply of hotel accommodation in the City centre, makes the Crowne Plaza an excellent, and unique, opportunity for existing operators and new investors who are prepared to make some investment in bringing guest facilities up to modern standards.”