North Yorkshire-based hotel group Ashdale Hotels has added a fifth hotel to its portfolio.
The group, which also operates luxury serviced apartments in Harrogate, and the Corniche Club and Restaurant 48, both in Knaresborough, bought Grants Hotel in Harrogate for around £4.2m.
Ashdale owner Martin Wicks said he planned to fully refurbish the 42-bedroom hotel and open a standalone restaurant with a focus on seafood.
Steve Rodell of Christie & Co, the agents in charge of the sale, added: “The sale of Grants Hotel not only reflects the popularity of Harrogate as a sought after hotel location, but also highlights the type of hotel asset we are still experiencing high demand for. It also shows that the market for high-quality single assets is still robust.”
The hotel`s proprietor Pamela Grant and major shareholders Stephen and Richard Wood decided to put the hotel on the market when Grant announced plans to retire.