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International investment firm Zeitgeist Consulting has acquired the Hand Hotel in Llangollen, north Wales, for £1.9m.
The business will be operated by hotel group Compass Hospitality with immediate effect.
The 58-bedroom property includes a bar, bistro-style restaurant, private dining rooms and conference space.
The hotel had been owned by Louise Holland and her co-directors for 25 years.
Graham and Sibbald, the chartered surveyors and property consultants handled the sale.
Martin Davis, hotel and leisure partner at Graham and Sibbald, said: “Having owned the hotel for 25 years, it was a big decision for Louise and her co-directors to sell this profitable business. However, the outcome is a testament to the continued demand for profitable, high-quality hospitality investments in the UK’s most scenic and vibrant locations.”
Holland, the former managing director, added: “Martin Davis brought serious buyers to the table without inflating expectations and provided support and clarity at every stage. We wish Compass Hospitality and the team at the Hand Hotel all the very best for the future.”
