Brewer Greene King has bought the Sale Hotel in Sale for £950,000 from PH Property Holdings.
The Grade II-listed building was run as a public house until it closed last March.
Greene King, which also owns The King's Ransom in Sale, plans to open it as a "family-friendly" pub under its Hungry Horse brand.
James Heyworth, land director at PH Property Holdings, said: "This is another great success story for PH Property Holdings, having bought and sold the 132-year-old building in just 12 months. It is a testament to both our commitment to urban regeneration and our determination to make the most of commercial development opportunities."
PH Property Holdings purchased the hotel in June 2009 as a development opportunity.
The company was established in 1996 and is a developer of houses and apartments in south Manchester and Cheshire.
The Sale Hotel was built in 1878 as part of the Sale Botanical Gardens.