Isle of Wight hotel changes hands after 33 years

The Riviera hotel on the Isle of Wight has changed hands for the first time in 33 years.

Local hotelier Mr Patel has snapped up the freehold on the 43-bedroom property for close to the guide price of £950,000.

The hotel is located in the Sandown area of the island and is a short walk from the town centre, the pier and the sandy beach of Sandown Bay

Aimed at the top end of the two-star market, the Riviera has a short-break programme, regular entertainment and a thriving private function business.

The property includes a 120-seat restaurant, a 100-seat lounge bar with a dance floor, and two-bedroom owners’ accommodation
 
The Southampton office of Colliers Robert Barry marketed the hotel on behalf of the sellers, Terry and Janet New.