Specialist business property advisor, Christie & Co has revealed a deal has been completed for the iconic Metropole Hotel & Spa in Llandrindod Wells, Powys to be taken over by Crest Hotels.
Justin Baird-Murray and Sarah Hill, the fifth generation of the family to own it, have been responsible for substantially upgrading the hotel’s facilities and expanding the range of services on offer to guests, and have significantly widened the customer base.
But the family feel the time is right as custodians of the hotel to step back and hand over to new owners to further develop and enhance the business for the future.
The family 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 Crest Hotels 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.”
The hotel is rich in history. On December 1 1897, Elizabeth Miles bought The Bridge Hotel from James Lewis Wilding for the sum of £7,850.
The Bridge Hotel became known as The Metropole Hotel and now features 109 bedrooms and extensive function facilities.
The hotel is ideally located close to Brecon, the natural gateway to the Brecon Beacons National Park and the University town of Aberystwyth to the West.
Crest Hotels has secured 100 per cent of the share capital of Hotel Metropole (Llandrindod) Limited.
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, brokered the deal.
He 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.”