North Wales is seeing strong hotel investment and development numbers as growing tourism numbers and high-profile attractions boost the region's appeal for growth.
One firm that has targeted the region is MBI Hotels who have already snapped up two Llandudno hotels and are keen to invest further in the region. They have opened the £6 million Llandudno Bay Hotel - formerly the Regency Royal Hotel - on the seafront and are now revamping the Belmont Hotel.
This week Pale Hall Hotel near Bala announced plans to team up with Michelin chef Michael Caines as part of a major refurbishment under new owners.
Neil Thomson, associate director, hotels agency for the North West offices of real estate advisors Colliers International, told the Daily Post that “among the key factors behind this marked improvement are banks returning to the sector, being keen to lend on successful and profitable operations that support the debt level required and with most commercial lenders happy to consider new debt proposals with a loan-to-value (LTV) of about 50 percent to 65 percent.