Keswick Park Hotel has been sold to Chinese investor Tong Zheng for the asking price of £995,000, according to a report on North West Caterer.
Zheng, who is from Beijing, plans to reopen the hotel – which is currently closed for refurbishment – for the Easter holiday period.
The Lake District property dates back to 1880 and has16 en-suite letting rooms, a conservatory-style restaurant with 24 covers and a two-bedroom owners’ flat.
It was sold by Don and Tracey Rogers, who are retiring from the hotel industry and will live locally.
Colliers International hotels associate director Haydn Spedding, who managed the transaction on behalf of the Rogers, said the move reflected the growing trend of overseas buyers looking to acquire hotels outside of London.