The North Wales hotel market continues to thrive and as a result demand for investment opportunities in hospitality businesses in the region remains high, says commercial property specialist Colliers.
There has been an increase in activity and a pool of buyers looking to invest in the Welsh hospitality industry, particularly in the north, as Colliers confirms a growing number of investors are signing up in key locations of the region.
Although the market remains buoyant, there is actually a shortage of inventory available for interested investors, and there is currently a window of opportunity for hotel owners looking to sell and profit from the cumulative activity. .
Colliers has sold more than 100 hotels nationwide since the start of 2021, achieving a significant number of sales in North Wales, including the 14-room Penmaeenuchaf Hall Dolgellau which changed hands from a price indicative £2million at the Seren Collection this week and the eight-bedroom Park Hill Guest House in Betws y Coed, sold from an indicative price of £650,000 to private investors last month.
Over the past six months Colliers has also sold Swallow Falls Hotel and Tyn y Fron Guest House in Betws y Coedthe, also known as the gateway to Snowdonia National Park and a gateway for visitors to access to the North Wales coast.
Neil Thomson, Associate Director of Colliers Hotel Agency comments:
“The transactions so far this year underscore the continued confidence in the North Wales hospitality industry. Not only is the region a prime tourist area, but it is also a sought-after investment destination. It is known that the benefits of buying in Wales can be higher than most places, offering better value for money offering more land and a more sustainable way of life for people looking to trade in the agitation against a peaceful alternative.
“Now is the perfect time to invest as the Welsh Government have just announced a new campaign to attract international visitors. The campaign focuses on a multilingual campaign around Welsh heritage, history and culture. The campaign targets high-spending foreign tourists such as European countries like Germany, Spain and France as well as visitors from Japan, China and India, which will hopefully boost travel international visitors to the region once pandemic travel restrictions are fully eased.