Outdoor leisure activities at Bewl Water reservoir have been taken over by the company that runs Kent's Hop Farm and Lamberhurst Vineyards.
The local firm has secured a lease of 70 acres of land including 17 miles of shoreline, owner Southern Water said.
The reservoir on the Kent/Sussex border attracts 200,000 people a year for fishing, cycling and sailing, it added.
Kent Attractions said it would preserve the surroundings and encourage people to enjoy the "magnificent scenery".
Southern Water said the reservoir was the largest stretch of open water in the South East, and the largest of its four reservoirs.
Andy Williams, a spokesman for Southern Water, said the leisure firm would bring "local knowledge and expertise" to the operation.
He said the water company would continue to have a significant interest in Bewl Water, "not only as a visitor attraction but also as a key water supply site".
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