The 13th Century country house hotel is located in Hartley Wintney and includes 72 guest rooms, 21 meeting spaces and 10 separate buildings spread over 79,0000 square feet. It also offers 35 acres of landscape grounds.
The Dare family, had owned the hotel for 18 years, decided to sell the property for an undisclosed sum.
Jastar Capital is a hotel, real estate and private equity family-owned business, the chairman Raj Matharu, founded Grange Hotels alongside his brothers Harpal and Tony.
Jay Matharu, property director at Jastar Capital, said he was “pleased” to announce the addition of The Elvetham to the portfolio.
He said: “We hope to build on the well-loved foundation that has been safeguarded by the Dare family for almost two decades. The Elvetham Hotel will receive a significant investment programme, including refurbishment of bedrooms, bathrooms, common areas, the formation of a new restaurant and the construction of a market leading spa.
“This is the first of several planned acquisitions and developments. Jastar Capital has ambitious plans to grow its presence in the hospitality sector across the UK.”
Greville Dare, managing director at Richmond and Hampshire, added: “After 18 years of ownership we are very proud of what we have been able to achieve with The Elvetham as a business. It is truly a magnificent asset in a fabulous location.
“I am personally delighted for The Elvetham, and for the staff, that The Elvetham has been acquired by another privately owned ‘family’ business like ourselves.”