The Horn of Plenty hotel and restaurant in Tavistock, Devon, is for sale.
Owners Paul Roston and executive chef Peter Gorton have decided to sell the 10-bedroom property, with its 60-seat Michelin-starred restaurant, so they can focus on expanding their chain of Carved Angel Cafés.
They are inviting offers of more than £1m for the business through agent Robert Barry.
In addition to the Horn of Plenty, Roston and Gorton own the 50-seat Carved Angel restaurant in Dartmouth, Devon, and three Carved Angel Cafés.
Two are in Devon, in Dartmouth and Exeter, while the third is in Taunton, Somerset. They serve brasserie-style food and seat 40, 65 and 80 respectively. A meal, with wine, costs less than £20 per person.
Roston said: "Making the decision to sell the Horn of Plenty was extremely hard. It is a very successful business and very popular but we have a burning ambition to go in the direction of the cafés and it is time to move on."
Roston and his wife, Andie, bought the Horn of Plenty from Ian and Elaine Gatehouse in 1998.
Gorton, who has been executive chef at the hotel for 12 years, and has held a Michelin star for five, became a business partner in 1999.
The Horn of Plenty has 15 staff, and Roston said the plan was for all but him and Gorton to continue working there after the sale. The head chef is Craig Stevens.
He said: "We have a commitment to make sure that whoever buys the business will take it forward in the same vein."
Cities he and Gorton are considering for cafés include Bath, Bristol, Swansea, Cheltenham, Cambridge and Oxford.
by Louise Bozec
Source: Caterer & Hotelkeeper magazine, 18 - 24 July 2002