Dalata Hotel Group has announced a deal to Rush (Central) Limited which holds the freehold interest of the Clayton Hotel Cardiff for £24m (€27m).
The Clayton Hotel Cardiff is a 4 star hotel, located in Cardiff city centre.
The hotel contains 216 air-conditioned bedrooms, a bar and restaurant, a fitness suite and extensive meeting room facilities.
Dalata currently holds a leasehold on the property until 2046, at an annual rent of £1.511m a year. This is subject to upward only rent reviews at five year intervals.
Rush also owns a restaurant located on the ground floor of the building, which is leased to Viva Brazil Cardiff Ltd, on a 20 year lease, expiring in 2032.
"This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews," commented Dalata's Deputy CEO Dermot Crowley.