The Brookfield hotel near the coastal village of Emsworth, Hampshire, has been sold for close to the asking price of £3m.
The new owners, the Hughes family, own the Milford Hall hotel in Salisbury and several bars and restaurants in the south of England.
The property is set in landscaped gardens just off the A27 to the west of Chichester.
Along with 40 bedrooms, the business consists of an 80-seat restaurant and conference facilities for up to 100 people.
The Southhampton office of Knight Frank sold the property on behalf of the Gibson family, who have run the hotel since it was founded in 1972.
By Angela Frewin