Mon, 20 May 2024 | COMMERCIAL PROPERTY
The Imperial Hotel, a 19th century hotel located on the seafront in Tenby, Pembrokeshire, has been acquired by Crest Hotels. The freehold of the hotel was on the market for a price of £2.5 million.
The sale process was conducted by specialist property adviser Christie & Co on behalf of Coast & Country Collection. The hotel was previously part of Shearings Hotels, part of Specialist Leisure Group, which fell into administration in May 2020 as a result of the early impact of the COVID-19 pandemic on the UK travel sector.
The hotel reopened in 2021 as part of the newly formed Coast & Country Hotel Collection and was one of 33 assets brought to market as part of the Coast & Country Portfolio.
The property was originally built around 1835 as a row of terraced houses. The hotel has 45 bedrooms, a bar and lounge and has a prominent position on Tenby’s seafront, offering panoramic views of the town’s South Beach.
Ed Belfield, regional director of Christie & Co’s hotel team, who acted on behalf of the seller, commented: "The sale of The Imperial Hotel represented an exceptional opportunity to acquire a successful hotel business with significant repeat patronage. We congratulate the new owners on their purchase of an iconic south Wales coastal resort hotel.”
"The hotel is one of the 33 assets put to market as part of the Coast & Country Portfolio. The hotels have received very strong interest to date, and a very limited number of these assets remain available, so we invite any interested parties to get in touch."
Crest Hotels directors Gurjinder and Parminder Singh said: "We are extremely proud to bring this iconic hotel into our existing portfolio and look forward to working with the team in situ to further build on its reputation and stature."
Find out more about hotel M&A
Offering marquee hire from small to large this business services mainly the events industry, its own smaller marquee competitors and occasional work directly with individuals. They can support parties and weddings through to corporate dinners, festiv...
LEASEHOLD
This contemporary, stylish 4 star hotel has 24 comfortable and individually-designed ensuite bedrooms, a modern bar and a recently refurbished restaurant with a great vantage point and some of the best seaside views in North Wales.
This is an attractive and strategically well-located hotel in the heart of Porthmadog and a stone’s throw from the junction of the A497.
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