Sidmouth's Royal York & Faulkner Hotel, which was put on the market in January 2023, is now being advertised for sale at a lower price.

The prominent seafront hotel was originally being marketed by Knight Frank with a guide price of £5.95 million pounds. It's now being advertised by Savills for a guide price of £4.75 million.

The listing describes the hotel as an 'established and profitable business' with 72 bedrooms, a large restaurant, a stylish, recently refurbished bar, three elegant lounges, a spa with hydrotherapy pool and sauna, and a contemporary cafe/bar/bistro, Blinis, which attracts non-resident trade.

The property agent suggests that the hotel has 'substantial upside potential'. The on-site owners' flat could be turned into extra bedrooms, and the reading and writing rooms could also be converted into guest accommodation or meeting space. Blinis, which currently opens only during the daytime, could start offering evening meals and drinks.

The hotel has been owned by the Hook family since 1939. They announced in October 2022 that they were going to put it up for sale, saying the prospective new owners would 'benefit from our very experienced and loyal team of staff, as well as our many valued regular guests'.