Yeovil Court Hotel in Yeovil has been sold through specialist business property adviser, Christie & Co at an asking price of £1.3m.
The hotel has been acquired by an unnamed first-time buyer and newcomer to the hospitality sector.
The former owner, Brian Devonport, decided to retire from the industry following a 30 year ownership. During this time, the property developed a reputation as a wedding and events venue.
Matthew Smith, director at Christie & Co’s Bristol, said: “Yeovil Court Hotel is an established and profitable hotel that suited both a first time hospitality entrant or an experienced operator, and generated considerable interest within weeks of launching to the market.
“The sale of this hotel further demonstrates the demand for quality hotels across the South West region with buyers and banks showing increased appetite to purchase profitable businesses in this sector.”