Cashmere Hotels has acquired the Royal York & Faulkner Hotel in Sidmouth, East Devon, from the Hook family.
The Grade II listed Regency hotel was sold off a guide price of £4.25m.
A spokesperson for the Hook family said: “We are pleased to confirm that the sale of the landmark Royal York & Faulkner Hotel completed last week. Having owned and personally run the hotel since 1939 it is certainly the end of an era. We have welcomed many regular guests over the years and been blessed with a team of loyal and trusted staff, many of whom have been with us for decades.
“The new owners, Cashmere Hotels will continue to operate the hotel along with our valued staff. The small independent group have several further hotels in the South West and we wish them every success. The family will remain in their beloved Sidmouth and look forward to enjoying their retirement.”
James Greenslade, director in Savills’ hotel capital markets team, which acted for the vendor on the sale, added: “We are very pleased to have completed the sale of this exceptional hotel for our clients. Its incredible location and strong trading history make it a standout asset within the region. We look forward to seeing the evolution of the business under new ownership.”
