The De Vere Group has sold its Jersey property, The De Vere Grand, for £15.55m.
Expected to complete in April the deal with the Fund of Delancy represents a premium to book value of 22%.
De Vere has also exchanged contracts for a new Village Hotel & Leisure Club in Farnborough, Surrey.
Carl Leaver, De Vere chief executive, said: "The sale of the De Vere Grand Jersey reinforces the group's commitment to managing our hotel portfolio in a way that delivers maximum value for shareholders. "
In the past two years the company has sold or agreed terms to sell six hotels signed management contracts for a hotel in Spain and the Belfry, and opened four new Village sites.
By Emily Manson
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