The couple, who have relocated to Cornwall with their family to focus on the new project, plan to revamp the 39-bedroom property and its 80-cover restaurant before re-launching it early next year.
Built as a residence for a merchant in the 19th Century, the riverside building has operated as a hotel for more than 50 years, 40 of them under the ownership of Bob Collings who sold the property to the Parry-Rudlins last month.
Nick Rudlin said the hotel, which is set in tropical gardens and overlooks Falmouth Bay had 'massive potential' and was the ideal site for what will be the couple's first hotel.
“We have a combined 40 years working in some of the most prestigious and challenging hotels and restaurants in the UK - and believe we can bring something new and fresh to this part of the country, that will appeal to local and visitor alike," he said.
“We will be combining big company disciplines and insights with a family and friendly approach to offer spectacular food and accommodation with up-scale standards of service and attention to detail.”
The couple have commissioned restaurant and hotel designer Helen Hughes, who designed Dragon Palace at Earls Court and Cafe Liberty at London department story Liberty's, to redesign the hotel with a brief to produce 'something that will amaze and delight' guests. Cornish agency A-Side Studio has been recruited to work on the hotel's branding.
"There are some wonderful hotels in Cornwall and we know that customers expectations around here are sky-high. While personal service will be our focus we want to avoid being just another 'boutique-style seaside hotel," said Parry-Rudlin.
The couple plan to keep the hotel's current staff with general manager Neil Slade also remaining in his position to help 'drive already high service standards.'
Simon Harvey, director at Christie & Co in Exeter, who handled the hotel's sale said he was confident the hotel would continue to do well under its new ownership.
He said: "I'm sure that Mr and Mrs Rudlin will make a huge success of the hotel. They have some well-thought-out plans and their experience and enthusiasm will enable them to build on the business's strong reputation both locally and further afield."