Richwood Hotel in Torquay has been sold to experienced operators in Devon after 11 years under the same ownership.
The Victorian villa, which is home to 14 bedrooms, has been owned by Veronica Pickles and Saida Hammoud since 2008, who run the property seasonally, closing for three to four months each year.
They now plan to pursue retirement following the sale.
The Richwood has been acquired by Ian and Deborah Dunning, who have recently sold The Button Oak Inn near Bewdley and also previously ran another hotel.
They now plan to rebrand the business as The Purple Tree Guest House.
The hotel has undergone a number of extensions over the years and alongside its 14 bedrooms, boasts a lounge, games room and bar, plus a swimming pool and spa.
Stephen Champion, associate director at Christie & Co, handled the sale and comments: “We are delighted to have brokered the sale of the Richwood Hotel on behalf of our clients, Veronica and Saida. The hotel benefits from a wealth of opportunity and we have no doubt new owners, Ian & Deborah, will take the hotel from strength to strength.
“The market for hotels and guest houses is buoyant, not only in Torquay, but across the South West region, with buyers particularly keen to acquire assets with upside.”