Georgian hotel in Fareham sold after being listed for £1.5m to 'continue the hotel's success'
"We are deeply grateful to our dedicated staff, past and present, for their unwavering support throughout the years.”
An historic hotel which has been under the same ownership for nearly four decades has now been sold.
Lysses House Hotel, in Fareham High Street, has been bought by a local investor, bringing to an end almost 40 years of ownership by Colin Mercer, who bought the hotel in 1986.
During that time, the Georgian Grade II-listed building has been upgraded and its range of services expanded. The 21-bedroom hotel includes the Richmond Restaurant, bar, sun terrace and several function rooms.
Its Hampshire Suite can accommodate up to 100 people and has been used for events including wedding receptions, group dinners and other functions.
Mr Mercer explained how he had decided the time was right to retire and hand the business over to a new owner. He said: "We bought the hotel 40 years ago and have enjoyed working in this beautiful location.
"The business has brought us significant repeat patronage from both private and group business throughout our tenure. I have decided to retire and to hand over the successful business to a new owner to take to the next level.
"We are deeply grateful to our dedicated staff, past and present, for their unwavering support throughout the years. We would also like to thank our guests for your loyalty, friendship and support over the years.
"It has been an incredible privilege to welcome so many wonderful guests and to be part of your holidays, celebrations and memories."
Lysses House Hotel was built in the early 1800s by Stephen Barney, with many of the Georgian design features still taking pride of place today.
Ed Bellfield, regional director for hotels at Christie and Co - which handled the sale - said: "The sale of the Lysses House Hotel represented an exceptional opportunity for new owners to continue the hotel's success.
"The hotel business benefits from significant repeat patronage and the outstanding reputation of the business is a testament to the continued re-investment and stewardship over recent decades."
The hotel was sold for an undisclosed sum after being marketed with a freehold guide price of £1.5m. The identity of the new owner has not been announced at the time of publication.