A five-star hotel in Edinburgh is being taken over by the Glasgow-based G1 group, run by nightlife entrepreneur Stefan King.
The Scotsman Hotel's previous owner was placed in an unusually complex liquidation procedure.
The price for the former newspaper office, which has 69 bedrooms, is not being made public.
However, it is claimed this is the biggest purchase by the G1 group in its 27 years.
It runs five hotels already, along with 47 other pubs, clubs and restaurants in Scotland.
Mr King said: "We have enjoyed huge support from Edinburgh City Council, the patrons and the teams employed in our Edinburgh venues over the years.
"The acquisition of The Scotsman Hotel is a significant reflection of a continued commitment to the city, and to the creation of further opportunities for the group and its employees.
"We aspire to build on the iconic presence and reputation of The Scotsman Hotel to be at the forefront of hotel venues in the city."