The deal marks Apex Hotels’ third country house hotel following the recent purchase of Pine Trees in Pitlochry and Meldrum House Country Hotel and Golf Course in Aberdeenshire.

Apex Hotels, which is also a family-owned hospitality business, was founded by accountant Norman Springford in 1996. The group now owns 10 hotels across a UK-wide portfolio, including city centre properties and rural resorts and hotels.

The Vineyard Hotel opened on the outskirts of Newbury, West Berkshire, in 1998 and soon became a multi-award-winning hospitality venue and a magnet for lovers of fine wine and great food.

Sir Peter Michael commented: “My wife Maggie and I wanted a local Michelin star style of restaurant and there was nothing in the area offering this so ‘The Vineyard at Stockcross’ was born.

“We look forward to continuing to enjoy this special place under new ownership and wish Apex Hotels and the Springford family as much joy and success as we have witnessed over many years.”

Managing director Andrew McKenzie, who has been at The Vineyard since opening, added: “The family and I have lived and breathed The Vineyard for over 26 years so this will be a huge wrench. We will miss our many regular guests but even more so our fantastic team.

“What is reassuring is it is going to a good home; I have known Norman for many years and the fact that he and his leadership group have a great reputation for running excellent hotels and, more importantly, looking after their teams, gives us great comfort.”

Angela Vickers, CEO of Apex Hotels said: “It is with great pleasure that we announce the purchase of The Vineyard; this is a significant step in our journey to diversify our portfolio and create more choice for our guests.

“We have huge respect for what Sir Peter Michael and his family have achieved at The Vineyard over the years and, as a family business ourselves, we recognise the dedication, hard work and passion that goes into creating a first-class venue such as this. We look forward to taking on the reins of this fantastic hotel and wish Sir Peter and his team all the best for the future.”

The hotels team at Colliers acted on behalf of Sir Peter and his family and found the buyer as part of a carefully controlled confidential sale process. The confidential marketing was handled by Julian Troup, head of UK Hotels Agency, and fellow director Peter Brunt.

Mr Brunt said: “The Vineyard is a special hotel I have been privileged to have known the Michael family and Andrew McKenzie for many years.

“When they asked us to advise on a sale process we were confident that its many qualities would draw in a buyer who would be excited to take on and continue to develop the business.

“I am looking forward to seeing Angela and her team at Apex continuing the evolution of this wonderful hotel. The hotel market continues to respond well to quality opportunities like this one.”