Businessman Peter de Savary has sold Bovey Castle for around £26 million after transforming it into one of the leading country hotels in the country.
The former Manor House Hotel at Moretonhampstead in Devon has estimated to have given him a £4 million profit since his purchase on 2003.
He spent £15 on one of the most upmarket retreats with prices up to £1,000 a night to stay in lodges on the estate. de Savary, 61 sold the 365-acre estate hotel to Hilwood Resorts and Hotels.
He said: "I have spent the last three and a half years in transforming the rundown Manor House Hotel into the now internationally acclaimed Bovey Castle."
de Savary and his associates are retaining the company, Bovey Castle Limited and changing its name to Havana West Limited.
The company will keep its other Dartmoor hospitality houses, which include the White Hart, Sandy Park, Coombe Court, Leyburn House and the Plymouth Inn.
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