Colliers International sells iconic Cheltenham hotel for £2.6m27th June 2013

One of Cheltenham’s best known hotels, The Hotel, has been sold for £2.6m to a local businessman after going into administration earlier this year.

Situated in the popular Pittville are of Cheltenham, The Hotel is a Grade II listed, 12-bedroom boutique property, which dates back to the 1830s. It has recently undergone a complete refurbishment with the installation of bathrooms, featuring whirpools, aromatherapy, chromotherapy and infinity baths and went on the market with Colliers International at the end of last year.

Parkers, the hotel’s 42-seat restaurant, was named Restaurant of the Year in 2006 by Cotswold Life.

Colliers International's Peter Brunt said: "The Hotel retains many original features and is a luxurious oasis of calm right in the centre of Cheltenham with numerous opportunities for exploring the legendary shops or further afield in the Cotswolds."

“Hotels of this standard remain in very short supply in Cheltenham and the Cotswolds, and this is a tremendous location. I expect the Hotel will be back to its peak very shortly under new management. The business closed just before before completion of the sale and I expect that a high quality refurbishment will precede its re-launch.”

The new owner has another hotel business in the town and is aiming to add bedroom stock to that business, while using The Hotel as a bed and breakfast, annexed to a larger restaurant and bar.