The Sawrey Hotel, in Far Sawrey, Cumbria has been acquired by local hotelier Jonathan Denby in a deal worth around £1.3m.
The hotel, located 36 miles from Lancaster, dates back to 1700 and has 19 bedrooms, a 45-cover dining room and a 50-cover bar.
The deal was brokered on behalf of the previous, private owner, by agent Knight Frank.
Mark Bailey, associate, Knight Frank hotels saidL: "The property has been in the same family for more 40 years.
"The new owner intends to implement a refurbishment programme to improve the letting accommodation and in the public areas to drive food & beverage sales, from the significant amount of passing trade the hotel enjoys."
