The Balmer Lawn Hotel and Spa in Lyndhurst Road, Brockenhurst, is on the market for offers in the region of £12.5m.
Chris and Alison Wilson are selling the 54-bedroom property, which has planning permission for 38 more rooms, increasing its function capacity up to 250.
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This includes enlarged spa facilities, and a barn for six staff bedrooms.
Speaking of the decision to sell, Alison said: ‘Over the last 25 years, myself and Chris have dedicated our lives to the continued refurbishment and development of Balmer Lawn, though we now feel the time is right to hand over the reins of the hotel to someone able to deliver its planning consent.
‘We’ve worked incredibly hard to improve our array of facilities on offer, including a multimillion-pound facelift and re-brand, improved gardens and grounds, a stunning spa and more recently of course, The Lodge.’
The four-star hotel is multi-award-winning venue, with one of the accolades being given for its outside dining concept, The Lodge, built for a Covid compliant environment.
It is in the New Forest National Park, and was first built as a private hunting lodge and residence in the mid 1800s.
The building became a field hospital in the First World War, and an army college during WWII.
King George V and Sir Winston Churchill are among its prominent visitors.
Ms Wilson said: ‘There is no doubt that a new owner will be keen to deliver the granted planning permission and secure the future position of the hotel.’