One of Manchester's most iconic hotels, the Hilton in the towering Beetham Tower on Deansgate, has been acquired by a competing hotel group that has significant renovation plans.

The 23-floor Hilton launched in 2006 and remains Manchester's tallest hotel. It became one of the city's top hotels, with superstars staying in luxury rooms including its Presidential Suite and its ballroom hosting charity galas and high-profile events.

Cloud 23, the hotel's bar on the 23rd floor, quickly became a city hotspot thanks to its sweeping views over Manchester.

IHG Hotels and Resorts have now unexpectedly announced their acquisition of the hotel, with plans to transition it into the InterContinental Manchester Deansgate in the future, reports .

A representative confirmed that the hotel will continue welcoming guests as normal but will soon adopt the interim name of The Manchester Deansgate Hotel within IHG's collection, before its full transformation into the InterContinental Manchester by 2027.

It will be the fifth InterContinental property in IHG's º£½ÇÊÓÆµ and Ireland portfolio.

Owned by Blue Manchester Hotel Limited, the 264-room establishment is slated for a "comprehensive refurbishment" to emerge as a new five-star destination in the heart of the city by 2027.

IHG chiefs say InterContinental Manchester Deansgate will "further cement IHG's position as the largest global hotel company in the º£½ÇÊÓÆµ and Ireland, where it currently operates 363 open hotels and has 33 in development".

It already has four InterContinentals across the two countries, with two in London, alongside Edinburgh and Dublin properties.

Willemijn Geels, Vice President, Development, Europe, at IHG Hotels & Resorts, trumpeted: "The signing of InterContinental Manchester – Deansgate marks a significant milestone in our º£½ÇÊÓÆµandI development strategy as we bring the world's first and most iconic luxury hotel brand to an important city in the º£½ÇÊÓÆµ.

"The landmark signing further strengthens IHG's luxury and lifestyle portfolio in the º£½ÇÊÓÆµ and perfectly complements our Kimpton Clocktower property - reinforcing our position as the leading luxury hospitality player in Manchester.

"We are proud to begin our partnership with Blue Manchester Hotel Limited through such a momentous project and look forward to welcoming guests to what promises to be an extraordinary InterContinental experience."

A Blue Manchester Hotel Limited spokesperson said: "This transition marks the beginning of an exciting new chapter for this iconic Manchester hotel.

"We are delighted to be collaborating with IHG Hotels and Resorts to reposition the property as an InterContinental hotel-one of the most prestigious brands in global hospitality.

"The transformation will be supported by significant investment to enhance the guest experience and elevate the hotel to a new standard of luxury. We are confident this next phase will further strengthen the hotel's reputation as one of the city's premier destinations."