Private property company London & Regional (L&R) has acquire the 198-bedroom Crowne Plaza Cambridge for apparently more than the asking price of £35m, after fight off a number of other bidders.
Previously owned by the Quinn Group who fell into administration, the hotel offers extensive health and fitness facilities and over 3,500 sq ft of meeting space- the largest room capable of hosting a reception for 300.
L&R's portfolio currently includes three Hilton hotels in London - in Park Lane, Trafalgar Square and Green Park. The company's owners, Ian and Richard Livingstone, also own two leading country house hotels, Chetwton Glen and Cliveden.