Offers of about £1.2m are being sought for The Esplanade Hotel, one of the few remaining family-owned hotels in Llandudno, by the specialist hotels team of real estate advisors Colliers International.
The 59-bedroom Victorian hotel on the promenade of the resort in North Wales has been owned by the Payne family since being created from five Victorian townhouses in the 1920s by Jack Payne, the founder of J E Payne Ltd which operated other renowned Llandudno businesses including The Winter Gardens Ballroom and Payne’s Cafe Royal.
His son Charles “Charlie” Payne, who welcomed many dignitaries to the hotel including Labour Prime Minister Harold Wilson and the Duke of Kent, passed the hotel to his daughter and current operator Gwenda McDonald who is retiring from the hotel trade.
The four-storey hotel with 59 en-suite bedrooms also features a bar and restaurant, a function room and a dining room. Turnover of the business in the year ended October 2012 was £912,785.00.
Neil Thomson, associate director in the hotels team at the North West office of Colliers International in Manchester, said: “The hotel is being placed on the market for the first time in its history and offers the potential for a successful and profitable business in a prime trading location.
“After recently completing the successful sale of The Baytree Hotel in Llandudno we expect to generate strong levels of interest from hotel operators and investors alike.”