A Hong Kong-based family company, which has not been named, has bought The Hotel Cairns that went into receivership in June.
The 92-room four-star hotel opposite the proposed Cairns Aquarium was sold by receivers Glenn Miller and John Goggin of BRI Ferrier for around $10 million.
Situated in the Cairns CBD the hotel was believed to have sold well below replacement value.
The hotel will change hands in late January 2015 and a decision on branding and management will be announced in the coming months.