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The Park Hotel in Paignton has been sold to the Fragrance Group, with the vendor represented by international real estate advisor Savills.
The property, located on Paignton seafront, is comprised of 46 en-suite bedrooms, ground floor public areas including a lounge, a conservatory and restaurant, and private dining rooms.
The acquisition marks the third for Fragrance Group in the Torbay area of Devon, having previously purchased the Corbyn Head Hotel and the Palace Hotel.
Martin Rogers, head of UK hotel transactions at Savills, said: “We are delighted to have secured a new owner for the Park Hotel. Situated in a prime spot on Paignton Seafront, the Park is extremely well located.
“With increasing numbers of international visitors exploring the UK, coupled with strong domestic tourism, the hotels sector remains buoyant and Savills is continuing to see strong investment into the UK regional hotels market.”
