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The three-star, 25-bedroom property is the oldest hotel in Woodhall Spa and owned by Hoby Hotels.
The company will also be managing the Lincolnshire Oak Hotel in East Road, Sleaford, which is also owned by Hoby Hotels.
Andy Townsend, chief executive officer of Legacy Hotels and Resorts, said: "This hotel has significant historical connections with Woodhall Spa since it dates back to 1882."
"We have also agreed terms with Hoby Hotels, which was formed in 1998, to manage the Lincolnshire Oak Hotel which is popular with leisure and business travellers alike."
"We now have a portfolio of 36 hotels across the UK and in Southern Spain and we are looking forward to growing both of these new businesses in our portfolio."
"Jeremy Walsh, who owns Hoby Hotels, wants to continue to pursue his business interests in Switzerland which is why he has brought in a respected management company to build on the good fortunes of the two hotels."
Walsh added: "We have been impressed with the professionalism and commitment of Legacy's management and we are looking forward to working with them to further improve our guests' experiences at our hotels.
"We are delighted that our hotels will bring additional geographic spread to this growing brand."
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