The Feversham Arms, one of Ryedale's best-known hotels, has been sold to Studford Leisure of Helmsley.
It has been owned and managed for the past 33 years by Gonzalo Aragues and Rowan Bowie, who are retiring.
They said today: "The Feversham Arms has been our life for over 30 years, and we will miss it very much, as well as all the people we met through the business."
Studford Leisure will take over on Monday, October 2, when they will start a six-week redevelopment project.
The main hotel will re-open in mid November, according to Studford chairman Tony Fawcett. He said a new restaurant, named The Brasserie at The Fev would open in mid December.
The company also owns The White Swan at Ampleforth and The Feathers Hotel in Helmsley Market Place.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article