L chain Jurys Inn has been bought by US private equity firm Lone Star Funds.
The deal is believed to be worth £680m. Jurys Inn has 31 hotels including four in London. It also has hotels in other parts of the UK, Ireland, and in Prague.
In a statement the company said its existing management team would stay in place.
“I would like to thank our existing shareholders for their commitment and support and welcome Lone Star Funds as our new owners,” said Jurys Inn chief executive John Brennan.
“The substantial investment in our business and brand, coupled with the efforts of management and our employees, have allowed us to deliver record results in recent years,” he said.
The chain was previously owned by a group of firms. They were Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmount Hospitality Group and Avestus Capital Partners.