Hilwood Resorts and Hotels has acquired Bovey Castle hotel and golf resort in Dartmoor National Park, Devon, from Peter De Savary for £26.4m.

De Savary spent four years completely restoring and extending the 1920s-built former private home in 365 acres (148 hectares), transforming it into a five-star hotel.

The property comprises 65 bedrooms, a self-contained cottage and 14 lodges, an 18-hole, championship golf course, a spa and swimming pool, an equestrian centre, a children’s club and playbarn, a trout lake, croquet lawn, tennis and archery.

Additional facilities include a business and conference centre complete with a multimedia theatre, board and communications rooms and a separate reception area.

Jamie Ritblat, chief executive of Delancey, said: “Bovey Castle is a highly exclusive resort and a fantastic asset to have acquired. We are delighted to have been able to make such a prestigious acquisition in the sector so quickly - less than six months after our purchase of The Grand in St Helier, Jersey, in April. We have already identified a number of areas at Bovey Castle which will provide development and operational opportunities, and believe, therefore, that its contribution to the Hilwood Resorts portfolio will be immediate.”

De Savary has retained the company Bovey Castle – to be renamed Havana West – as well as the company’s other Devonshire properties, comprising the White Hart, Sandy Park, Coombe Court, Leyburn and the Plymouth Inn. The entrepreneur now plans to add similar properties to the portfolio.

De Savary will also remain chair of the Bovey Castle Club.

Hilwood Resorts and Hotels is a joint venture partnership set up earlier this year by investment advisor Delancey with Gregor Ritchie and Arvinder Walia – formerly of Hand Picked Hotels – to acquire and operate premium UK hotels. Details: www.boveycastle.com