The 104-bedroom Hotel Sheraton on Blackpool's seafront has been sold to local hotelier Nigel Seddon and family, owners the nearby 89-bedroom Elgin hotel.
Hotel Sheraton, which had been owned and operated by the McPhee family for 54 years, was sold for an undisclosed sum off a guide asking price of £2.3m.
The new owners plan a £500,000 refurbishment of the freehold property. This will include 35 refurbished "beach house"-style bedrooms and new bathrooms. The public rooms, which include function facilities, two bars, a restaurant and indoor heated swimming pool, will be refreshed and there will be a new brochure and website.
Both Hotel Sheraton and the Elgin, which has a restaurant and bar, are located on the Queens Promenade.
Agent Christie + Co handled the deal. Director Martin Davis said: "This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels."
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