Keswick Park Hotel in the centre of the Cumbria town has been acquired by a Chinese investor from an asking price of £995,000.
Tong Zheng from Beijing bought the hotel on County Corner from owners Don and Tracey Rogers who are retiring from the hotel trade to live locally.
The hotel, which dates back to 1880, offers 16 en-suite letting bedrooms, restaurant with 24 covers and owners' flat.
The hotel is closed for refurbishment but Zheng plans to reopen in Easter.
Haydn Spedding, associate director at Colliers International in Manchester advised the Rogers. Spedding said: "Mr Zheng is indicative of an increasing number of quality overseas buyers looking to acquire hotels such as Keswick Park as investor interest moves outwards from London to other popular destinations such as the Lake District and major cities including Manchester."