Michael and Carol Allchorne have moved from Beverley on Northumberside to run the hotel and restaurant in Alston, Cumbria, on the main road from Penrith.
Accommodation at the hotel - parts of which date back to 1780 - includes six en-suite bedrooms to sleep 15 guests and a self-contained three-bedroom owners' flat.
Dining facilities include a 100-seat bar/restaurant with a Victorian fireplace and raised seating area, a 22-seat private dining room/breakfast room, and a 25-seat café.
The business turns over £202,801 a year.
The Manchester office of Colliers Robert Barry sold the freehold off a guide price of £495,000 on behalf of Michael and Sarah Glass, who have retired.
By Angela Frewin