A North Wales hotel located within a grade II-listed building dating back to 1794 has been sold to a private international investor.
The sale of Celtic Royal Hotel was overseen by the specialist hotels team at real estate consultancy Colliers International.
Acting on behalf of private owners Markus and Sinead Donsbach, Colliers sold the hotel at Bangor Street, Caernarfon, to an investor advised by Fairtree and the hotel will be managed by Providence Hospitality.
The Georgian-style Celtic Royal Hotel offers 112 en-suite bedrooms, the Draco Restaurant with 100 covers and ballroom capable of accommodating up to 320 people, a leisure club with 16-metre heated indoor swimming pool, the Summit Bar Bistro and Castle Room and Caernarfon Room, together also providing 100-plus covers.
Providence Hospitality, a UK-based hospitality management company, has secured contracts to manage all the properties owned by Fairtree and its clients in addition to its presence in South Africa.
Joe Bester, director of Providence Hospitality, said: “The signing of the Celtic Royal Hotel forms a major part of Providence’s accelerated growth strategy within the UK.
“We are determined to develop quality business and leisure circuits for our loyal guests, in key provincial locations around Britain through our affiliations with Fairtree and all our partners. We are very excited to take on this new opportunity within Wales and look forward to bringing our authentic hospitality and passion to visiting guests and locals alike.”
Julian Troup, head of UK hotels agency at Colliers International, secured the sale, added: “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.”
The sale of Celtic Royal Hotel follows Colliers also securing the recent sale of Ruthin Castle Hotel and Spa in North Wales, proving the region’s increasing popularity with overseas and domestic hotel buyers.