TWO landmark hotels in a South Lakeland town have been sold within days of each other.

The Castle Green Hotel and The County Hotel in Kendal have both been acquired by holiday companies.

Colliers International, who handled the sale of the Castle Green, described the transaction as "the largest and most valuable individual hotel sale that has ever taken place in Cumbria."

It has been sold for an undisclosed sum to global investors Frank Truman Limited and will now be operated by Legacy Hotels & Resorts, one of the UK’s leading, privately owned, hotel management companies with a portfolio of approximately 2,800 trading and pipeline guestrooms across the Britain and Southern Spain.

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Tim Rumney, the managing director of the Castle Green Hotel and chairman of Interchange & Consort Hotels, which operates the Best Western brand in Great Britain, said: “After 20 years of owning and operating The Castle Green Hotel in Kendal the shareholders have decided to retire or pursue other business interests.

"We would like to thank the hotel team for their commitment and the local community for their support over that time and for helping us create a very special hotel.”

Andy Townsend, Chief Executive Officer of Legacy Hotels & Resorts, said: “We acknowledge the investment that has been made in the business over recent years and we are pleased to now have the opportunity to take the hotel forward on the next phase of its development journey.

"The hotel joins us at a very exciting time for the group with new openings and development projects coming online over the next few months.”

A Colliers International spokesman said the sale reflected unprecedented demand for quality hotel accommodation from both overseas and domestic buyers, thanks to factors including the weakness of sterling, positive returns on investment offered by the sector, investors seeking alternatives to other types of real estate and the Lake District’s recently acquired status as a UNESCO world heritage site.

Meanwhile The County Hotel has been sold by Christie & Co for nearly £1million to Daish's Holidays, a family-run coach operating company, which has plans to refurbish the property over the next few months.

George Brown, director of Daish's Holidays, said "We are delighted to have acquired The County Hotel. For Daish’s Group, The County Hotel is the first of a new brand for us, that will be targeting premium economy markets that are seeking city and country locations."

Prior to the sale The County Hotel, which opened in Kendal in the late 18th century, operated as part of The UK Holiday Group Portfolio. It was originally known as the Lowther Arms but has also been called the Brougham Arms, the Commercial Hotel and Railway Hotel.