ONE of the New Forest's best-known hotels has been taken off the market just months after it went on sale for around £12.5m.
Chris and Alison Wilson, owners of the award-winning Balmer Lawn Hotel for the past 25 years, have blamed the global economic downturn for their decision.
They are now planning to forge ahead with part of a £4m expansion scheme that was given the go-ahead in 2020.
READ MORE: New Forest's Balmer Lawn Hotel goes on the market for £12.5m
Mr Wilson said: "Alison and I have decided not to continue with the sales process and have removed the property from the market.
"Although there was considerable interest in the hotel it became evident that due to national and international economic and political upheaval, it was not the right time to sell our business.
"We are delighted to continue with our ownership of our beloved hotel.
"The staff have been extremely supportive throughout this process and we are all now fully focused on continuing our development plans for the property."
The 54-bedroom hotel at Lyndhurst Road, Brockenhurst, went on sale in June last year.
Speaking at the time Mr and Mrs Wilson said: "It is time to retire from the industry and hand over the reins to a new owner who can continue to take the business forward and capitalise on the investments we have made.
"The business is in great shape, with strong performance in all sectors including leisure, corporate and weddings."
READ MORE: Balmer Lawn Hotel named as best large wedding venue
Mr Wilson told the Daily Echo: "This was to be a genuine retirement sale after 25 years of ownership. However, our timing was off in terms of the economic uncertainty with high inflation and rising interest rates.
"We decided it was not the right time to sell and what’s more realised that perhaps we weren’t ready to face retirement either."
Three years ago the New Forest National Park Authority approved an application to add an extra 38 bedrooms and upgrade other parts of the site.
Mr Wilson said: "In the short term we are going to start the first stage of the expansion with the new driveway and garden landscaping to include hot tubs.
"We are hoping to progress with full expansion once the economic environment is more favourable.
"We are so proud of the hotel and with our general manager Michael Clitheroe at the helm we have a great team who have been immensely supportive during this process."
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