Jobs of 70 staff have been saved with sale of Sheffield's only four star boutique hotel.
City centre The Leopold Hotel has been sold by receivers for more than £4 million.
The 89-bed Leopold Square sale was today completed by joint receivers Adrian Berry and Daniel Smith, partners of Deloitte LLP.
An international hotel management company bought the site "at a substantial premium to the £4 million guide price".
Global property advisers Colliers International and Bilfinger GVA acted jointly for vendors.
Colliers International head of UK hotels agency Julian Troup said: “This deal represents an unrivaled opportunity to own Sheffield’s only four-star boutique hotel.
"The property is ideally located in the city centre, just half a mile from the train station and in close proximity to the town hall, peace and winter gardens, which form centrepiece of the urban regeneration of Sheffield.”
Joint receiver Adrian Berry added: “There was a significant level of interest in the hotel. We are delighted to confirm completion of the sale, which protects the jobs of 70 employees.
"We wish both the purchaser and the employees well in the hotel’s next chapter.”
Built in 1800, and originally Central Technical School for Boys, the hotel was in 2007 sympathetically restored and converted into a four-star boutique hotel.
Retaining much of its original character, the landmark hotel provides 89 en-suite letting rooms, bar, restaurant and fitness suite in addition to conferencing and wedding facilities.