Luxury boutique hotel operator Eden Hotel Collection has acquired the 64-bedroom Bovey Castle estate in Dartmoor National Park for an undisclosed sum.
The hotel was put up for sale in 2012 for £17.5m. It had been bought by Delancey in conjunction with Hilwood Hotels & Resorts from Peter de Savary in 2006 for £26.4m. It is believed the current sale price could have been around half the sum de Savary received.
The privately-owned group of luxury hotels across the Midlands, the Cotswolds and the South West says it plans to invest £2m in the country house estate, which includes an 18-hole championship golf course, spa, country lodges and an outdoor pursuits centre.
Bovey Castle specialises in residential conferences, teambuilding, incentives, board meetings and private functions and Eden says it will be looking to expand this area of the business.
The deal follows £13.5m of investment announced by Eden Hotel Collection in April in the 35-bedroom Tides Reach Hotel in Salcombe, South Devon.
Eden Hotel Collection’s Managing Director Mark Chambers said: “Bovey Castle is a key acquisition for the group and will add to our existing properties in Somerset, Kingsbridge and now Salcombe. It establishes us as a major force in the hotel and tourism sector across the region.”
Chambers said Eden was pleased to expand further into the South West, where its parent company, The Rigby Group plc, already has strong business links through its ownership of Exeter Airport, British International Helicopters (BIH) and SCC, the international technology company.
The Rigby Group has evolved into a £1.8bn portfolio business which compromises technology, airports, hotels, real estate, finance and aviation. It is one of the largest family-owned businesses in the UK and was named Family Business of the Year in 2013.
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