Hotel News & Gossip

[Craigydonian]

I was told yesterday that developers are knocking down the back end of the Tudno.  There's a Pizza Hut going in the grounds.

I think a Pizza Hut maybe wide of the mark.

[wrex]

Regency Royal hotel has been sold subject to contract

[DaveR]

Regency Royal hotel has been sold subject to contract

...and is to become the Llandudno Bay Hotel.

[Bri Roberts]

Is that part of Shearings?

[wrex]

Maybe the Llandudno quarry bay hotel might be a bit more apt. ZXZ

[Fester]

Regency Royal hotel has been sold subject to contract

Serves them right for serving that weird 'beef bacon' instead of the proper British bacon that 'most' holiday makers expect.

[DaveR]

Is that part of Shearings?

No, it's going to be owned by a consortium of investors who intend to thoroughly refurbish the hotel:
http://www.propertiesoftheworld.co.uk/llandudnobayhotel.html

[wrex]

quite bizarre that 3 buisnesses in their pictures have closed ,the London,Manor foods and Bettys Fabrics,i do hope the Habit tearooms are;nt next.

[DaveR]

quite bizarre that 3 buisnesses in their pictures have closed ,the London,Manor foods and Bettys Fabrics,i do hope the Habit tearooms are;nt next.

I did notice that - funny.

[wrex]

we are all doomed

[DaveR]

The former owners of the Royal Hotel have moved out and Northstar Estates are boarding up the building.

[DaveR]

Deganwy Quay Hotel up for sale for £7m
May 01, 2014 07:00 By Mari Jones
Administrators have been called in to the company that owns the freehold and shares in the hotel

Deganwy  Quay Hotel has been put up  for sale with a price tag of  £7m after it was revealed  administrators have been  called in to its holding company.

The news has shocked the local  community as the hotel is one of  the biggest employers in the area.

It was opened in 2006 by the Earl  and Countess of Wessex, and it’s  understood it cost £12m to develop.

David Chubb and David Kelly of  PricewaterhouseCoopers LLP  were appointed as joint administrators of Albemarle Leisure  LLP on February 19. The company owns shares in Deganwy Quay  Limited and the freehold property  of the Quay Hotel and Spa.

However, the administrators have stressed Deganwy Quay  Limited, which runs the hotel under a lease arrangement  from Albermarle, is not in administration and is financially  self sufficient.

The hotel will continue to trade as normal whilst a  purchaser is sought.

More than 70 people work at the Quay Hotel, which is part of a  landmark £43m marina development on the River Conwy.  The hotel makes a significant contribution to the local  economy. In addition to the wages it pays local people, the  establishment spends around £700,000 with local suppliers.  The award-winning hotel has 74 bedrooms and suites.

David Jetuah of PricewaterhouseCoopers LLP commented: “Albemarle Leisure had for some time being trying to  refinance the debt of the company, however due to the timing  of any offer available, it was felt that to protect the company’s  assets administration was appropriate.”

The hotel is for sale with JLL Hotels and Hospitality  Group. It’s vice president Alistair Greenhalgh said that  although it’s only been on the market officially for a week  The Quay is already attracting a high level of interest.

He said: “The Quay is a modern, well-appointed four star hotel that  benefits from an attractive marina location which makes it  a very appealing investment opportunity.

"Well qualified  purchasers have now returned to the hotel market and we  are already receiving high levels of interest from hotel  owners and operators wanting to acquire this asset. The sale  will both protect and safeguard the hotel business.”

Deganwy councillor Julie Fallon said: “This is really sad news. The Quay is an important employer in Deganwy and a real asset to the community. But you would find it hard to find as beautiful a spot as the Deganwy Quay so I am sure it is just a matter of time before a buyer is found.”

The Mayor of Conwy Cllr Samantha Cotton added: “I had heard they were in trouble.

“Obviously the Quay area has brought increased prosperity to the area and the hotel is an important employer, in an area that does rely heavily on tourism.”

http://www.dailypost.co.uk/news/north-wales-news/deganwy-quay-hotel-up-sale-7056520

[DaveR]

I had a quick look at the accounts of Abermarle Leisure and they are pretty grim. The company has a net worth of minus £6.1m, .i.e it owes far more than its assets are worth. They had the Hotel on the books for years at a value of £13m, but it looks as though they were forced to write the value down recently to a more realistic valuation of £7m and this has caused the crisis.

http://companycheck.co.uk/company/OC330580

[Blongb]

It was a totally unrealistic project right from the outset. Built as a 5 stare Hotel for our political elite to use when they came North to visit their colleagues who were supposed to move into the White Elephant WAG offices in Llandudno Junction.

There isn't a hope in hell of any realistically sized 5 Stare Hotel surviving and making a profit in this part of Wales. Even with the summer trade its catchment area is just to small. Plus of course it was fully backed by that other totally discredited Quango, the Welsh Tourist Board.     

[Fester]

I went there a lot last Summer, and I was always struck by how busy it was.

On the beautiful 'suntrap' patio, it was always full of golfers and business types.

Of course many of the local residents were there too, and many of the Marina 'yachting set'

I hope it survives, and that the administrators manage to sell it as a going concern.