The five-AA-star, 123-bedroom Grand Jersey Hotel and Spa in St Helier, Jersey, has been put on the market for the third time in eight years.
Offers in excess of £15m are being sought by property agent Savills on behalf of West Register (Hotels No 2), an offshoot of RBS Real Estate Asset Management.
The hotel, which features the Tassili Michelin-starred restaurant under executive head chef Richard Allen, was sold by the De Vere Group in 2006 to investment company Delancey for £15.5m. It was acquired by West Register in 2011, since when it has been managed by Redefine BDL Hotels.
Located overlooking St Aubin's Bay and Elizabeth Castle, the hotel is one of only two five-star-AA-hotels in the island of Jersey. It underwent a total refurbishment in 2010 and incorporate a cinema, Champagne lounge and banqueting facilities.
Martin Rogers, director of regional hotels at Savills, said: "This is a prime hotel asset on Jersey, an island which is not only a popular tourist destination but a well-known offshore financial centre that is home to global banking organisations.
"Having undergone an extensive refurbishment, the facilities are impeccably presented and this is a rare opportunity to invest in one of Jersey's leading hotels."