Miller Howe, the Lake District country house hotel that became a destination restaurant under chef John Tovey in the 1980s, has been sold off a guide price of £2.85m.
The property has been purchased by a local businessman, who wishes to remain anonymous, for an undisclosed sum.
The three-AA-star hotel overlooks Lake Windermere and features 15 en suite bedrooms, a restaurant, bar and conservatory and a detached cottage converted into additional accommodation.
Miller Howe was bought and launched by Tovey in 1971 with an investment of £53,000 and by 1989 it had become internationally renowned.
It was sold to Charles Garside, former editor of the European newspaper and now assistant editor at the Daily Mail, in 1998 after Tovey's retirement.
The hotel changed hands again when it was purchased by the Ainscough family in 2006, who put it on the market through Colliers International in 2017.
Julian Troup, head of UK hotels agency at Colliers, handled the most recent deal 20 years after selling the hotel on behalf of Tovey.
He said: "Miller Howe is arguably the most high-profile and prestigious small country house hotel in the Lake District National Park, offering unrivalled views over Lake Windermere.
"Its landmark status and outstanding location resulted in a strong level of both domestic and international prospective buyers, who were prepared to reflect the potential and real estate value in their assessment of the opportunity.
"Colliers is continuing to experience a high level of serious interest in hotels and hospitality businesses, our sale of Miller Howe brings the total to 21 sales completed by Colliers since the beginning of last year."