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The Royal Esplanade hotel on the Isle of Wight seafront has been put up for sale with an asking price of £1.1m.
The 69-bedroom hotel, located in the seaside town of Ryde, features a bar, lounge, decked sun terrace, cafe and a restaurant which is open to the public.
Simon Wells, hotels director at Colliers International, which is marketing the hotel, said: “Opportunities to secure a hotel business such as this are few and far between. The Isle of Wight is a small yet beautiful and well-regarded visitor destination, and being less than two hours away from London, this charming hotel will offer its new owners a wonderful location and lifestyle.”
Wells said the Royal Esplanade attracts a mix of trade including self-drive and coach borne holidaymakers. He added that there is scope for “further growth” by expanding the hotel’s food and drink offering and trading all year round – it currently closes from January to March.
The Isle of Wight – known as the ‘dinosaur capital of Great Britain’ with over 20 species of dinosaur identified on the island – attracts 1.4 million visitors each year.
