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Long-term owners of The Royal York and Faulkner, the Hook family, are bringing the site to market with a guide price of £5,950,000.
The “highly-profitable” Regency hotel is located on Sidmouth’s Esplanade. The listed property has been under the family’s ownership since 1939, spanning three generations.
The business has reportedly experienced “exceptional” trading performance in 2022 to-date and “boasts a healthy catalogue of forward bookings”, many of which are from repeat customers as well as regular trade from individual tour operators.
The Royal York and Faulkner features 72 guest bedrooms and comprises two interconnecting dining rooms, a lounge-bar, three guest lounges, a cafe-bar bistro, and a spa facility.
For investors seeking “value-adding opportunities”, the business is said to offer several areas of growth potential including the conversion of the owners’ accommodation into additional guest bedrooms, expansion of the private leisure business, and increased trading hours at the popular Blinis Café-Bar.
The Hook family said: “The hotel has been something of a way of life for our family for the past three generations.
“It has been both home and work for many happy years, however, we are now extremely proud to put the hotel up for sale as a well-established successful business. Prospective new owners will benefit from our very experienced and loyal team of staff, as well as our many valued regular guests.”
Matthew Smith, partner in the Knight Frank Hotels team, who is instructing the sale, added:
“We are delighted to represent the Hook family as we seek a buyer for The Royal York and Faulkner Hotel. As long-time owners, the family have turned what was once a modest eight-bedroom guest house into a substantial and flourishing 72-bedroom hotel business.
“The property benefits from a perfect location on Sidmouth’s beautiful seafront and enjoys regular custom from visitors who come to enjoy a stay on Devon’s stunning Jurassic Coast year-on-year. Knight Frank expect interest from a plethora of interested parties, with the opportunity to take on a profitable multi-faceted hotel business in one of the UK’s leading tourist destinations likely to be an attractive proposition for prospective buyers.”
