Newcomers to hospitality Kevin and Liz Davies have made their first move into the hotel market with the acquisition of Elan Valley Hotel near Rhayader in Powys.
The couple – from Newport, South Wales – viewed more than 20 different properties across the region before deciding the take on the 11-bed boutique.
The hotel was sold off an asking price of £445,000 and the couple are already planning to move the property more towards the ‘boutique hotel market’.
Kevin said: “This is a beautiful hotel built in 1880, and we aim to maintain the balance between the restaurant, conference and rooms. We hope to be able to move toward the boutique hotel market to take advantage of the get-away-from-it-all location.”
Colliers International hotels director Peter Brunt, who sold the hotel off an asking price of £445,000, said: “Kevin and Liz have already established a good relationship with the locals and are excited to move the business forward.
“The 11 rooms at the hotel are all in very good condition so they have a good starting point. The hotel is in the heart of Red Kite country and has a strong connection to great outdoor activities such as walking, cycling, bird watching and horse riding – with treks leaving directly from the hotel.”
Wales and West hotels specialist Peter added that the hospitality sector had maintained solid progress despite post-Brexit uncertainty.
He added: “The flow of new instructions has continued, neither speeding up or slowing down with offers and viewings continue to come in as before. I see no sign of any choppy waters for the Welsh hotel market.”