THE ICONIC Albion Hotel, in prime position at Freshwater Bay, has been sold.
New owners A2K Leisure have pledged a multi million pound refurbishment of the building.
The hotel has previously been owned by the Spyker family, who own several Isle of Wight properties including The Grand Hotel in Sandown.
South east law firm Moore Barlow said Surrey-based A2K Leisure purchased the Albion Hotel for an undisclosed sum.
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The 41-room hotel is located on the seafront.
A2K Leisure’s David Walker said: “The Albion will be a lovely addition to our growing portfolio of hotels.
"We have great plans for a multi-million-pound refurbishment to bring the hotel up to date whilst retaining its 300 years of rich heritage.
"It will become one of the hottest destinations on the South Coast over the next few years.
“We believe firmly in the long-term resilience of the leisure and hospitality sectors and consider now a great time to expand and invest.”
William Warnock, partner in Moore Barlow’s commercial property team, led the deal. He said it illustrated there are still plenty of growth opportunities available in hospitality.
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