This marks the first completed acquisition by the company following a £22m refinance deal with NatWest that was announced earlier this week.
The 22-room hotel is located in the Cambridgeshire town of Stilton, and has been under the same ownership for the last 30 years.
The site, which dates back to the 1500s, features conference facilities and a large garden, making it a popular destination for weddings and events.
A refurbishment of the site’s bedrooms will begin in January as part of an initial £250,000 investment spend.
The hotel’s acquisition will bring the Coaching Inn Group estate to 453 bedrooms, near to its 500 bedroom target.
Head of the company, Kevin Charity, said: “The Bell is a fantastic addition to our business and is one of the best examples of a Coaching Inn in Britain.
“It is well known for its very high quality food and beverage product and we look forward to working with the team over the next few months to further develop its bedroom and function business which we see as key areas of opportunity.”