The Park Hotel in Paignton has been sold to the Singaporean-based Fragrance Group. The vendor, a private individual, was represented by international real estate advisor Savills.
The hotel, located on Paignton seafront, comprises 46 en-suite bedrooms, ground floor public areas including a lounge, conservatory and restaurant, and private dining rooms.
This is the third hotel in Torbay that the Fragrance Group has bought in Devon recently: in October it also purchased the Corbyn Head Hotel in Torquay via Savills and preceding that the Palace Hotel in Torquay.
Martin Rogers, head of UK hotel transactions at Savills, commented, “We are delighted to have secured a new owner for the Park Hotel. Situated in a prime spot on Paignton Seafront, the Park is extremely well located.
'With increasing numbers of international visitors exploring the UK, coupled with strong domestic tourism, the hotels sector remains buoyant and Savills is continuing to see strong investment into the UK regional hotels market.”
