The White Horse hotel in Romsey has been sold to a group of local businessmen.
They plan a big refurbishment and hope to increase the star rating of the business that has been on the site on the centre of town since around 1500.
The traditional coaching inn, which has been a favourite meeting place for Romsey's residents and businesses - the Rotary Club has met there for 20 years - will undergo extensive improvements.
It has been sold by Macdonald Hotels to a group of local businessmen and contracts were due to be exchanged yesterday (Thursday.)
A spokesman for the new owners, Peter Robinson, of the hotel consultants, Hospitality Management Recruitment, said they had a strong background in the hospitality industry.
They had developed and improved several similar listed buildings and hotels in the area and had "definite plans" to improve all of the hotel's facilities.
Mr Robinson, himself a former hotel general manager, told The Advertiser: "Particular attention will be paid to public areas of the White Horse, the bar, restaurant and meeting facilities, the bedrooms having recently been upgraded by Macdonald Hotels."
Mr Robinson, who will oversee the refurbishment, emphasised that the building would remain a hotel and the present staff would be kept on. There are 30 full- and part-time workers.
Hospitality Management Recruitment is based in Gloucestershire.
Mr Robinson declined to name the local businessmen in advance of completion of the sale. But he said that the principal person involved had done similar projects for other hotels and increased their star rating.
The 33-bedroom White Horse is at present a three-star. "We will look to take it to four-star and aim for accolades in the restaurant," he said.
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