The Israeli-based company has bought the leasehold on the four-star hotel, which features a Marco Pierre White-branded restaurant.
It comes weeks after its purchase of Manchester’s Midland Hotel, home to the Adam Reid at The French restaurant, for £115m.
Both properties will join Fattal’s Leonardo Hotels group, which has eight UK sites and more than 150 hotels across major European cities.
“[This] is another step in our strategic plan to extend our foothold in the UK and to position the group as one of the UK’s most significant hotel owner and operators,” says David Fattal, CEO of Fattal Hotel Group.
The Grand Harbour Hotel opened in 1994 and features 173 rooms, two restaurants, a spa and meeting and events space for 500 people.
Fattal also bought the Jury’s Inn chain for £800m in partnership with Sweden’s Pandox hotel investment firm last year.