The four-storey property was sold by June Dickens and her husband who are retiring after owning the Baytree Hotel for almost 40 years. It was acquired by experienced hoteliers who also own the Chatsworth House Hotel and New Loretta Hotel in the town, and will be run by Trevor Mitchell.

The actual sale price was undisclosed but was close to an asking price of £625,000.

The Baytree Hotel, situated on North Parade in Llandudno, overlooking the promenade and with sea views, has been closed for several years, only opening for the peak season tourist trade. It has 47 en-suite bedrooms, a lounge bar and dining room, a function/conference room with dance floor and fully equipped commercial kitchen.

The new owners are refurbishing the four-storey property to create a modern hotel and plan to reopen in May, in time for the main holiday season.

Neil Thomson, associate director, hotels agency at the North West office of Colliers International in Manchester, said the sale and investment in refurbishment reflected improved sentiment among hoteliers in North Wales.

He said: “Investment by existing hoteliers in Llandudno and throughout North Wales demonstrates that confidence in the market seems to be returning. Although the Licence and Hospitality sector remains challenging, banks now seem keen to talk to buyers who want to purchase a guest house or small hotel, providing the opportunity for operators, who have been keen to sell for some time, the chance to finally exit the market.”