The Palace Hotel in Buxton is up for sale, and its owner, The Hotel Collection, is seeking $11 million, reports the Buxton Advertiser. In a statement, The Hotel Collection said its decision to sell the 122-room property, was based "after a strategic review," whereby the board "decided to rationalize our portfolio in order to position The Hotel Collection for growth and investment."
"While a successful property in its own right, The Palace Hotel for various reasons does not fulfil our vision for the future of the brand," it added. "The remaining hotels will all benefit from strategic investment as we improve each property for our customers to enjoy."
The Hotel Collection also owns Shrigley Hall Hotel near Macclesfield, as well as a number of other properties. It has appointed Christie and Co to handle the sale.
Jeremy Jones, director of Hotels at Christie and Co, said: "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."
The Palace Hotel also features a large banqueting room, function suites and a health and leisure club.
The hotel was originally built in 1868.