The Gwydyr Hotel in North Wales has been sold off a guide price of £895,000 after six years under the same ownership.
The 20-bedroom hotel in Betws y Coed, Gwynedd was marketed through Colliers International on behalf of sellers Rob and Dawn Farren.
The new owner is James Budgen, a local businessman and wedding videographer who has decided to diversify into the leisure sector.
Alongside its 20 bedrooms, the hotel comprises a breakfast and dining room, sports lounge and two separate owners’ apartments.
Neil Thomson, associate director for Colliers International commented, “As we enter the New Year, there is a perceptible return of confidence within the hotel sector. With the General Election behind us and the economic uncertainties of Brexit greatly diminished, the industry is definitely looking forward with renewed vigour. Consequently, we are already experiencing a noticeable increase in demand for hotels businesses in North Wales, with an increasing number of international and domestic private buyers looking to purchase quality assets.”
The hotel has been privately owned since the 1970’s and has been operated by the current owners for the past six years.
The building has been sympathetically renovated to include much of the original character of this period property, with business developing over the years to take advantage of the ever increasing market in Snowdonia.