Eagle Resorts, which owns Old Thorns Manor Hotel in neighbouring Liphook as well as Tracy Park Hotel near Bath and Castlemartyr in Ireland, bought the 44-bedroom Lythe Hill Hotel & Spa with plans to invest heavily in the estate.
Lythe Hill, set within 16 acres of countryside, includes self-contained garden suites, conference facilities and six meeting rooms. Grounds include a tennis court, grass helipad, croquet lawn, wedding pavilion and fishing lake. The extensive spa and gym is next door to the hotel's two AA restaurant and bar.
Property agent Knight Frank, in charge of the hotel's sale said the Grade II listed freehold property has the potential for additional bedrooms or conference facilities within the current building footprint as well as the option for alternative use subject to the necessary consents.
Henry Jackson, a partner in property agent Knight Frank Hotels' team, said: "The hotel market continues to improve and demand for high quality hotels in prime Home County locations is strong. We expect the market conditions to remain positive for 2015 as hotel trading performance continues to grow and purchasers are prepared to pay higher prices."