Rata, who was previously general manager at the Grand hotel in Brighton, said that he was proud of the legacy at Bovey, which he joined in 2008.
"I turned the hotel round from a business making losses with falling turnover to one that became very profitable and saw turnover rise over 45% to £6.7m by 2014," he said. "I leave behind a tremendous team and a hotel in great order."
He added that the future of Bovey is "bright" under its new owners.
Rata will now continue to develop his photograph business, specialising in hotel and restaurant commissions, with business partner Ben Duffy, a renowned portrait photographer. Their clients include London hotels, the St Pancras Renaissance, Flemings and the Goring, as well as Hotel Football in Manchester.
Future commissions have already been lined up for overseas hotels in Miami, Mexico and Santa Fe.
Rata, who does not rule out a return to hotel management, is also currently consulting Damien Hirst on the launch of a restaurant he is opening alongside a new art gallery, which is due to open in Newport Street, London, in May 2015.
Meanwhile, Rata believes that there is huge potential for him to expand his photography business as hotels realise the business benefit of creating websites with high quality imagery.
"We pride ourselves on providing vibrant, punchy images, which tell a consistent story," he said.