Horley hotelier Raj Patel has added the Gainsborough Lodge B&B to the other hospitality business, the Gatwick White House hotel, that he owns in the Surrey town.
Patel bought the B&B from Graham and Rosina Everett through the Maidstone office of Christie + Co which was seeking offers in the region of £1.2m.
The three-red-diamond-rated B&B comprises two neighbouring properties on a half acre of land with extensive parking facilities.
It is near the town centre and within a five minute drive of Gatwick airport, where it runs a courtesy transfer service to and from the hotel.
Sixteen of its 23 bedrooms are found in the main building, Gainsborough Lodge, which is believed to date from 1911 and also houses the residents' lounge and a 58-seat dining room/conservatory.
The remaining seven bedrooms are in the Little Lodge bungalow, which was built in the 1930s.
A self-contained owners' or manager's flat provides an en-suite double bedroom, kitchen and lounge.
By Angela Frewin