The hotel is the sixth UK contract for the business which is headed by managing director Richard Ellison. 7 Hospitality Management supported the investors with the transaction and will continue to operate and reposition the hotel and business.
The hotel features 78 en-suite bedrooms , the 1881 Restaurant & Bar, and a Ballroom that can hold up to 150 people with more intimate boardrooms for one-to-one meetings or company presentations.
Ellison said: “This hotel is a great addition to our portfolio in a strong market. We are excited to work with the new owners in the redevelopment and repositioning of this iconic hotel. This is our second hotel in Northern England in the last two months and we continue to have a strong pipeline of key UK destinations which we are close to closing in Q2 & Q3”.
The hotel, which is based on the banks of Lake Windermere, entered administration after a large-scale renovation project led to cash flow issues and was recently acquired by Thai-based hospitality group Lake Merritt Group.