The 213-bedroom hotel which is situated within the grounds of the 300-acre site and is adjacent to the Silverstone circuit, was bought by Whittlebury Park owners Jeff and Carol Sargeant with a £20m loan from Oaknorth. It has been owned and operated by financial specialists Zolfo Cooper since 2011 when it was placed into administration.
The Sargeants bought Whittlebury Park in 1984 and have carried out a staged development of the estate over the last 32 years with it now including a 36-hole golf course, clubhouse, 41-bedroom hotel and wedding facilities.
Jeff Sargeant, executive chairman of Whittlebury Park, said he hoped the strategic move would help both businesses grow.
"It has taken over three decades to develop Whittlebury Park into the estate it is today and as we look ahead to the future, we are keen to continue building on its success and expand further," he said.
"Uniting Whittlebury Hall with Whittlebury Park will bring the entire estate into family control, and provides us with the opportunity to increase our corporate proposition and host more guests during peak times such as the Grand Prix."
Whittlebury Park managing director Charles Sargeant, who has run the business since 2009, said: “I am very much looking forward to leading the combined organisation in this exciting period of expansion. We have one of the largest independent, multi award-winning hotels in the country, one of the best golf courses in the UK and a team of over 400 exceptional people.
"By combining world-class facilities with the personal touch that only a family business can provide, we are in the unique position to deliver long-term investment that will result in the very best service to our customers.”