The Eyre Court Hotel in Seaton, Devon, has been sold to Punch Taverns off an asking price of £1.2m through agent Stonesmith of Exeter.
Owners John and Noleen Maguire had run the pub for the past five years and it was named Greene King "Pub of the Year" for 2004 and 2005.
Punch is now looking for accomplished operators to take over the pub on a 10-year lease.
The trade accommodation includes a main bar, a lounge bar with 30 seats and a restaurant with 36, as well as a new conservatory-style function suite for up to 100 people.
The first floor provides nine en-suite letting bedrooms and an owner's/managers apartment.
Outside there is a trade patio with seating for 70.