Michael, Thomas and Ken Patterson, who also own the Queenstown Park Boutique Hotel, have purchased Hotel Montreal on Montreal St in central Christchurch.
The family said they have been looking for a suitable hotel in the centre of the city to purchase "for some time", but few fitted their criteria for size and quality.
Michael Patterson said the family is "delighted to be buying from another strong family-oriented business owner".
"Hotel Montreal’s size is a perfect fit for us and complements our Queenstown Park Boutique Hotel as well as the Commodore.
"The timing, we believe, is also ideal. The first phase of Christchurch’s rebuild programme is nearing completion with the likes of the Town Hall and Te Pae, the council has given the green light for the new stadium, restoration of the cathedral is under way and many other projects are on the books.
"Couple that with the eventual return of tourists to the city and we think Christchurch is heading into an exciting era,” he said.
It has been 50 years since the Patterson family opened the Commodore Hotel in 1971.
"We are really excited about Hotel Montreal’s future," Michael Patterson said.
"It has a great reputation, is well located, has excellent car parking and is the perfect size for hosting corporate events and conferences. The five-star apartments suit well the level of clientele we are looking to attract."
“Hotel Montreal ... is another strong positive for our family business,” Michael Patterson said.
Thomas Patterson will manage Hotel Montreal, while Michael Patterson will remain manager of the Commodore Hotel and Ken Patterson will keep managing the Queenstown Park Boutique Hotel.
The Pattersons will take over Hotel Montreal at the end of October.
