The 52-bedroom 200-year-old hotel, situated on Exmouth's Regency Terrace, has been run by Opus Restructuring since 2011 when the property was placed into receivership.
The Richardson Hotel Group's acquisition, which will be completed at the end of this month, takes its hotel portfolio to six.
In a statement the company said: "For over two centuries, the Royal Beacon Hotel has offered guests a tradition of genuine hospitality – a tradition that has continued in its present role as Exmouth’s finest hotel making this a perfect fit for the Richardson Hotel Group."
Owned by hotelier Keith Richardson, the Richardson Hotel Group, owns and operates two hotels in Torquay, Devon - The Grand Hotel and The Grosvenor - and three in Cornwall.
Last month Richardson told BigHospitality he'd employed chef John Burton Race to oversee food and beverage at The Grosvenor in Torquay where he would also be opening a new restaurant.
The hotelier said he hoped the move would help 'break the legacy' left by former owner Mark Jenkins, who brought it to fame through the TV programme The Hotel.