Stonecross Manor Hotel is due to undergo a major refurbishment after changing hands.
The 30-bedroom Kendal hotel is the first property for H&M Hotels, a new firm aiming to establish a chain of character-led hotels.
It was advised on the acquisition by hotel turnaround and management specialists Onecall Hospitality, which will operate Stonecross on its behalf.
Managing director of Onecall Hospitality, Mark Chambers, said: “Stonecross Manor Hotel is one of Kendal’s best-known hotels and is well loved by locals and visitors to the Lake District alike.
“In recent years it has suffered from a lack of investment.
“We will be making an immediate start on a refurbishment programme, which will encompass the bedrooms, bar, restaurant and function rooms."
He added: “The aim is to restore the hotel to its position as a focal point within the community, as a venue for dining out, events and functions and to rebuild the tourist trade.
“It is our ultimate intention that Stonecross Manor Hotel will be the first of a unique collection of hotels of character under the ownership of H&M Hotels.”
Onecall’s managed hotel portfolio also includes Provincial Hotels and Inns, a new investment company which acquired 11 Lancashire pubs and hotels from Mitchell’s of Lancaster in its first deal last summer.
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