The Manor and Ashbury resorts in Devon, one of the largest sport and hospitality complexes in the UK, have been sold to Evergreen Escapes Group for an undisclosed price.
Evergreen Escapes Group is a new venture led by hospitality investor Stephen Twiss, formerly chief executive of Lakeshore Leisure Group. The acquisition is the group’s first, with further site purchases planned in the coming months.
The two sites, spanning 546 acres on the edge of Dartmoor National Park near Okehampton, have been under the ownership of Joan and Simon Essex for 47 years. The couple decided to sell the business to focus on retirement.
The resorts comprise two hotels less than two miles apart, offering a combined 404 guest bedrooms and on-site accommodation for up to 60 staff.
The Ashbury resort is recognised as the ninth largest golf destination in the world, with five 18-hole courses and 103 holes in total. More than 115,000 rounds are played annually by residents and visitors. Beyond golf, more than 70 sports, craft, leisure and spa activities are available across the sites, supported by indoor and outdoor facilities that make the resort a year-round destination.
The business has expanded significantly since the Essex family bought the original 10-bedroom manor house in 1978. It now generates more than £15m in annual revenue and attracts about 135,000 guests a year. A high proportion of repeat customers contributes to its performance. The resorts operate on an all-inclusive model covering full-board accommodation and access to facilities.
Matthew Smith, partner in the Knight Frank Hotels team, who handled the sale, said: ““This landmark transaction underpins investor confidence in the South West hospitality market. It’s a hugely exciting time for Stephen Twiss and the wider team, and we look forward to seeing how the business evolves under his stewardship. We also extend our best wishes to Simon and Joan Essex on their well-deserved retirement”
Stephen Twiss added: “The acquisition of The Manor & Ashbury Resorts marks the first step in Evergreen Escapes Group’s journey, and it couldn’t be a more perfect fit. It provides the ideal platform for us to realise our ambition of building an industry-defining portfolio of luxury escapes, bringing together holiday and leisure resorts providing an ‘escape the urban’ lifestyle to a multi-generational audience.
“We’re especially fortunate to be starting this journey with the exceptional 280-strong team at The Manor & Ashbury, whose passion for delivering outstanding guest experiences has earned them some of the highest levels of repeat visits in the industry. Their success is a testament to the fantastic legacy created by Simon, Joan and the entire team, whose vision has laid such strong foundations – and we look forward to building on that success together. Plans are already underway for an extensive room refurbishment programme, which will be the first step in a wider long-term development strategy.”
