Fowey Hotel sold

Hoteliers Keith and Ann Richardson have added a third hotel to their portfolio with the purchase of the 29-bedroom Fowey Hotel in Fowey, Cornwall.

The couple paid £600,000 for the hotel, well below the asking price of £750,000. They now plan to spend another £250,000 on a refurbishment that will include extending the kitchen, adding seven more bedrooms, and making all rooms en suite.

The Richardsons have installed David Swade as the new head chef. Mr Swade was formerly head chef at another of their properties, the Beech Hill hotel on Lake Windermere, Cumbria, which has two AA rosettes for its cooking.

"We plan to upgrade the food standard at the Fowey Hotel quite quickly," Mr Richardson said.

The Fowey Hotel was previously owned by Bill and Mavis Stobbs, who are retiring to the USA.

The Richardsons also own the Idle Rocks Hotel in St Mawes, Cornwall. Mr Richardson said another purchase was likely in the future.