Singaporean investor The Fragrance Group has bought the 116-bedroom Aloft Hotel on North John Street.
The Liverpool hotel was sold for an undisclosed sum but was marketed for sale by Colliers and CBRE with a guide price of £12m.
North John Street, a limited liability partnership, was the vendor.
The building was constructed in around 1900 as the head office of the Royal Insurance Company and was subsequently restored and converted to a hotel.
The hotel reported a net turnover of £3.8m in 2019 and operated under the Aloft franchise, part of Marriott Group. The hotel will continue to be operated by RBH Hospitality Management under its new ownership.
There was a “considerable level of interest” from both domestic and overseas bidders, according to Julian Troup, head of hotels agency at Colliers.
Shaun Skidmore, senior director of operational real estate at CBRE, said: “The acquisition of this prestigious asset by Fragrance Group demonstrates the continued appeal of Liverpool’s vibrant hospitality scene and will further enhance their growing portfolio.”
In 2017, The Fragrance Group acquired the 130,000 sq ft Municipal Buildings from Liverpool City Council to turn into a 186-bedroom hotel, and restaurant.
Russell WBHO started work on the £40m redevelopment 12 months ago.