One of Wales’ oldest hotels, the Metropole Hotel & Spa in Powys, has been sold after being in the same family ownership for 125-years.
Owned by the Baird-Murray family since 1897, the hotel has been sold to Crest Hotels. The value of the deal, brokered by property advisory firm Christie & Co, has not been disclosed.
The 109-bedroom hotel, in Llandrinod Wells, has been sold by Justin Baird-Murray and his sister Sarah Hill.
The family, which has invested significantly in upgrading the hotel's facilities in recent years, said it was the right time to step back and hand over to new owners in the Singh family, who own Crest Hotels, to further develop the business.
Mr Baird-Murray and Ms Hill, who represented the fifth generation family owners, said: "Whilst it is of course sad to be selling a business with which we have been involved for our entire lives now is the right time. We wish the Singh family every success during their ownership of this wonderful hotel in a beautiful part of Wales. Most importantly we would like to thank the staff, with whom we have shared this memorable journey, for their hard work and dedication over the years.”
Crest Hotels has acquired an 100% equity stake in the hotel.
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. Justin and Sarah, including previous generations, have worked incredibly hard to create a fantastic legacy with The Metropole Hotel and we want to assure them it is in safe hands with Crest Hotels.
“We look forward to working with the local community and fully embracing the business, its people, its suppliers and of course, its many guests from all walks of life to enjoy a wonderful customer experience with us.”
Ed Bellfield, regional director of Christie & Co, who brokered the deal, said: "The sale of The Metropole Hotel represented an exceptional opportunity to acquire a highly successful hotel business with significant repeat patronage, largely due to its continued ownership and continuity within the same family for over 120 years.
“The reputation and success of the business is testament to the continued reinvestment and family stewardship over recent decades, combined with its enviable location in picturesque mid Wales. We wish Justin and Sarah well with their future plans and the closing of a long-established chapter and congratulate Gurjinder and Parminder on their purchase of an iconic hotel.”
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