Guernsey's La Grande Mare Hotel has been sold to Pula Investments, a company owned by billionaire Stephen Lansdown.
The co-founder of British financial-services firm, Hargreaves Lansdown, moved to the island in 2010 as a non-executive director for Ravenscroft Group.
He also owns Bristol Sport and is listed at number 1070 on the Forbes 2018 Billionaire List.
The sale of the four-star hotel, golf and country club was completed on New Year's Eve. It was previously owned by brothers Chris and Simon Vermeulen.
The new owner says he hopes to secure the hotel's reputation as a golf club on an international level.
I’ve been a member of the hotel’s golf club for a number of years and have been aware that the Vermeulen family were considering all options for the hotel’s future. It struck me that this could be a great opportunity to invest in something on my doorstep and really build on the solid foundations that they have laid over the last forty years. The Vermeulen family have worked hard particularly to strengthen the growing reputation of the golf course over the last 23 years and I look forward to bringing my group’s expertise to explore how we can secure La Grande Mare’s reputation as a world-class golf club and resort.