Opus North, a property development and investment company in Yorkshire, has sold a landmark hotel on Wales' Aberystwyth seafront to Premier Inn Hotels for an undisclosed sum.
According to BDaily.co.uk, Whitbread Hotels and Restaurants, which owns the Premier Inn brand, agreed on the terms for the sale of the flagship Bay Hotel with Opus North.
The strategy behind the purchase of this new Premier Inn is for it to act as a catalyst for the regeneration of the northern promenade area of Aberystwyth. The renovated hotel will have 62 bedrooms and a restaurant on the ground floor when it opens at the end of the year.
The Bay Hotel, which occupies a prominent position on Aberystwyth’s northern promenade, was previously owned by Ceredigion District Council, who had leased the premises to Cardiff-based brewer SA Brain and Co. As Cambrian News notes, Premier Inn was initially going to lease the building from development company Opus North, but then opted to buy it outright after agreeing to a deal.
Premier Inn will be the first national chain to have a business on Aberystwyth’s seafront.