Buxton’s landmark Palace Hotel is up for sale, with a price tag of £7 million.
The Grade II listed, four-star hotel, on Station Road, is being sold by its current owners The Hotel Collection.
The company said all 97 staff members’ existing terms and conditions will transfer with the hotel to the new owner.
Explaining their decision to sell the 122-bedroom property, a statement from the Hotel Collection said: “After a strategic review, the board of The Hotel Collection has decided to rationalise our portfolio in order to position The Hotel Collection for growth and investment.
“As such we have decided to sell The Palace Hotel in Buxton.
“Whilst a successful property in its own right, The Palace Hotel for various reasons does not fulfil our vision for the future of the brand.
“The remaining hotels will all benefit from strategic investment as we improve each property for our customers to enjoy.”
The Hotel Collection, who also own Shrigley Hall Hotel near Macclesfield, as well as a number of other properties, have appointed property specialists Christie and Co to handle the sale.
Jeremy Jones, Director of Hotels at Christie and Co, said: “The hotel is highly profitable, with scope for further development, subject to planning.
“We are finding that there is an increasingly strong demand for quality provincial UK hotels and I expect the interest for The Palace Hotel to be high.”
Offers in excess of £7 million are being sought for the profitable, freehold hotel, which stands in five acres of landscaped gardens, in close proximity to many of Buxton’s main attractions.
As well as the 122 bedrooms, the Palace Hotel also features a large banqueting room, function suites and a health and leisure club.
The hotel has proudly overlooked Buxton since being built in 1868.