Officers spoke to a man they believed to be the victim and escorted him to an address in Upper Church Road, where they found a seriously injured man inside the property.
Emergency services including paramedics attempted CPR but he was pronounced dead at the scene.
Two men, both in their 40s, have been arrested on suspicion of murder and were taken to hospital with injuries. They have since been released and are currently in police custody.
House-to-house enquiries have taken place while CCTV footage is being reviewed by officers, while a large police cordon remains in place at the hotel and Upper Church Road.
As part of their investigation, police have asked residents in Knightstone Road, Lower Church Road, Lovers Walk, South Terrace, Park Place, Royal Crescent, Upper Church Road, Raglan Place, Greenfields Place and Victoria Park to leave their bins out.
Inspector Graeme Hall said: “This is a tragic incident in which a man has lost his life. While our investigation is still at a very early stage, we do not believe there is any wider risk to the public.
“We know that while these incidents are incredibly rare, they can be upsetting and cause concern among the community.”
“To provide reassurance to local residents, neighbourhood officers have increased patrols in the area and we’d encourage people to approach them if they have any questions.”
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