The Corbyn Head hotel in Torquay, Devon, has become the latest UK hotel acquisition for the Singapore-based Fragrance Group.
The hotel group bought the 50-bedroom property from Rew Hotels, overseen by local hotelier Sylvia Rew, who also owns the nearby Best Western Livermead Cliff and Livermead House hotels.
The Corbyn Head was sold for an undisclosed sum and follows a buying spree for the Fragrance Group, which so far this year has included the Townhouse hotel in Manchester for £12.5m, the Imperial hotel in Blackpool for £12.8m and the Palace hotel also in Torquay off a guide price of more than £10m.
Its most recent acquisitions were the Crown hotel in Harrogate off a guide price of £8.5m and the Lyndene hotel in Blackpool off a guide price of £6.5m last month.
Martin Rogers, head of UK hotel transactions at Savills, said: "We are delighted to have secured a new owner for the Corbyn Head hotel following a successful 18 years under the current owners. The UK regional hotel market continues to remain popular with overseas investors with the group accounting for a significant percentage of hotel transaction volumes outside of London."
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