Newquay-based Nettleton Holdings is expanding its portfolio with the acquisition of Boringdon Hall Hotel in Devon.
The deal ensures Boringdon Hall, which is situated on the edge of Dartmoor, is saved from administration.
Nettleton Holdings, whose interests include ownership of The Bay Hotel and The Esplanade Hotel in Newquay, will unveil plans for refurbishment and expansion in the near future.
Director James Nettleton said: “We are thrilled about the purchase of such a fantastic property. We are looking forward to the challenge ahead and welcome the opportunity to bring out the full potential of Boringdon Hall, for the enjoyment of our guests and the security of the employees.
“This is a great opportunity to invest in and reposition the hotel in the market place. We look forward to welcoming guests new and old and look forward to putting Boringdon Hall on the map as the place to stay in Devon.”