Park House Hotel has been bought by Crest Hotels, an independent group which operates five hotels across the UK.
The 54-bedroom, Grade II listed building features dedicated conference and meeting rooms, the largest of which has a capacity of up to 222 people, as well as a leisure facility including a 15-metre indoor swimming pool.
A spokesman on behalf of Crest Hotels said: “The Park House Hotel is an exciting acquisition, given its excellent location, we look forward to investing in the successful future of this business.”
The property was marketed by joint agents, Graham + Sibbald and Simon Stevens Associates.
Martin Davis, of Graham + Sibbald, said: “This transaction and the strong interest generated in this business during the competitive marketing process, demonstrates that despite the Covid-19 pandemic the demand for well-located and realistically priced regional hotels remains.”
Simon Stevens, from Simon Stevens Associates, said: “Having a close working relationship with Crest Hotels for the last 20 years, we are pleased to have secured another hotel to add to their expanding portfolio. In fact, the Park House Hotel closely follows the Tiverton Hotel that Crest Hotels purchased early in 2021. Together we look forward to our continued efforts to secure more transactions in this extraordinary period.”