Hertfordshire-based hotels group Beales Hotels has purchased the freehold of West Lodge Park Hotel in Cockfosters after holding the property's lease for more than 65 years.
The family-run business, which also includes the four-star Beales Hotel in Hatfield, has run the 59-bedroom hotel since 1945. After five years of negotiations, Beales Hotels has now taken on the freehold of the property with funding from Barclays.
Beales Hotels managing director Andrew Beale commented: "Our lease would have expired in 2068, which seems a long way off but isn't in the context of our family firm, which is now some 243 years old.
"Nothing changes in the sense that we still have many customers and staff to look after each day, and planning regulations in this part of London's green belt remain very tight, but on the other hand everything changes in the sense that for the first time in 67 years we can truly plan for the long term at West Lodge Park."
In addition to the two four-star hotels, the Beale family, whose business has run over eight generations, also runs Beales Catering.
By Kerstin Kühn
E-mail your comments to Kerstin Kühn here.
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs
Blogs on Catererandhotelkeeper.com
Catch up with more news and gossip on all Caterer's blogs
For the latest hospitality news, sign up for our E-newsletters