The 126-bedroom property enjoys an enviable seafront location on the Queens Promenade and offers extensive function facilities, two bars, a restaurant and an indoor heated swimming pool.
The hotel, which had been owned and operated by the McPhee family for 50 years, has been sold to experienced hoteliers Nigel Seddon and his family from the nearby Elgin Hotel for an undisclosed sum off a guide asking price of £2.3 million.
Martin Davis, Director at Christie + Co’s Manchester office, who handled the sale, said: “It was a pleasure to deal with the sale of this popular hotel; Mr Seddon recognised a unique opportunity to acquire this substantial freehold property which enjoys a prime trading location in one of the UK’s most popular resort destinations. We wish the Seddon’s the very best for what promises to be a most exciting future for the Sheraton Hotel and its staff.”
“This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels.”