Colliers expert highlight a window of opportunity for hotel owners.
The North Wales hotel market continues to thrive and as a result the demand for investment opportunities in hospitality businesses in the region remains high, commercial real estate specialists Colliers explain.
There has been a surge of activity and a pool of buyers looking to invest into the Welsh hotels industry, especially in the north as Colliers confirm an increasing number of investors are registering for key locations in the region.
Despite the market remaining buoyant, there is infact a shortage of stock available for interested investors, and comments that there is currently a window of opportunity for hotel owners looking to sell and take advantage of the cumulative activity.
Colliers has sold over 100 hotels nationally since the beginning of 2021, completing a significant number of sales in North Wales including the 14-bedroom Penmaenuchaf Hall Dolgellau changing hands off of a guide price of £2million to the Seren Collection this week and the eight-bedroom Park Hill Guest House in Betws y Coed, being sold from a guide price of £650,000 to private investors last month.
In the last six months Colliers has also sold Swallow Falls Hotel and Tyn y Fron Guest House in Betws y Coed, also known as the gateway to Snowdonia National Park and a hotspot for visitors to access the North Wales coastline.
Neil Thomson, associate director for Colliers Hotel Agency comments: “Transactions so far this year underlines the continuing confidence in the hospitality industry within North Wales. Not only is the region a leading tourist area, but it is also sought-after investment destination. It is known that the benefits to buying in Wales can be higher than most locations, providing better value for money offering more land and a more sustainable lifestyle for people looking to trade in the hustle and bustle for a peaceful alternative.
“Now is the ideal time to invest as the Welsh Government has just announced a new drive to attract international visitors. The campaign focuses on a multi-lingual push around Welsh heritage, history, and its culture. The campaign targets high spending overseas tourists such as European nations like Germany, Spain, and France along with visitors from Japan, China and India, this will hopefully boost international travel to the area once the pandemic travel restrictions are completely relaxed”