Guy Hands and his wife Julia have bought the Grand Jersey Hotel & Spa in St Helier for an estimated £15 million.
The couple’s privately owned Hand Picked Hotels chain has taken over the five-star property from RBS Real Estate Asset Management, taking its total to 21 hotels.
The Grand becomes the country house hotel group’s third property in the Channel Islands after its purchase of the L’Horizon Hotel & Spa, also in Jersey, and St Pierre Park & Golf Resort in Guernsey.
The news comes at the same time as the company's figures for the year to 28 November 2013 show a decrease in turnover from £59.9 million to £58.1 million and an increase in pre-tax losses from £6.9 million to £9.1 million.