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The Celtic Royal Hotel in Wales has been sold by Colliers International to a private international investor.
Colliers International sold the site at an undisclosed price on behalf of private owners, Markus and Sinead Donsbach.
The anonymous investor was advised by Fairtree, and now the hotel will be managed by Providence Hospitality. The Grade II listed building dates back to 1794, and features 112 en-suite bedrooms.
The Draco restaurant hosts 100 covers, and the hotel also features a ballroom that accommodates up to 320 guests. The site also offers a leisure club with a heated indoor swimming pool, the Summit Bar Bistro and Castle Room, as well as the Caernarfon Room, together providing over 100 more covers.
Julian Troup, head of UK hotels agency at Colliers International, said: “The acquisition of the Celtic Royal Hotel is a further example of us being able to sell the shares in a hotel owning company and in a highly confidential fashion.
“There was competing interest in the hotel and the decision was taken to proceed with a proven buyer eager to further expand in the area.”
He added: “We have seen an emerging trend of increased demand for quality provincial hotel opportunities from a diverse buyer group of buyers.
“These profiles range from international investors (attracted by weaker sterling and improving trading prospects), private buyers (attracted to the benefits of a lifestyle opportunity) to corporate investors (attracted to favourable returns and real estate alternatives).”
UK-based Providence Hospitality has secured contracts to manage all Fairtree-owned properties, as well as properties owned by its clients.
