Devon hotel snapped up after 50 years of family ownership
A Grade II listed hotel on the Jurassic coast has been purchased by an overseas investor after 50 years under family control.
The four-star Hotel Riviera in Sidmouth, around 14 miles southeast of Exeter, houses 26 bedrooms, an 85-cover restaurant, a bar, and function suite.
The property was marketed by Knight Frank with an asking price of £3.5m, after previous owners Peter and Dena Wharton prepare to retire from the hospitality industry.
Knight Frank said the property had attracted interest from multiple buyers.
Matthew Smith of Knight Frank’s hotel agency team, said: “Our clients have built up a very strong relationship with both their staff and guests, and the new owner will further enhance the hotel offering and continue with its philosophy which has proved so successful over the years.”