A developer from Manchester has been revealed as the new owner of Seiont Manor Hotel in Gwynedd as plans are lodged for a major redevelopment of the site.
Paul and Rowena Williams bought Seiont Manor hotel, in Llanrug, and nearly Plas Glynllifon, near Caernarfon, in 2016. They later entered - run by Myles Cunliffe.
But the properties have been dogged by issues which saw them .
Seiont closed to customers in January last year and the two properties, which were in the hands of administrators Duff & Phelps, went on the market last February.
A sale was later confirmed and now it has been revealed that the owners are Caernarfon Properties Ltd with David Savage, a developer from Manchester, listed as director.
The limited company has Dragon Investments, also run by Mr Savage, listed as the controlling party. This firm also now owns Polvellan house in Cornwall, which had also been in the property portfolio of the Williamses'.
Plans are now set to be submitted to expand the hotel and build lodges in the grounds, with a consultation launched by agent Cadnant Planning.
They intend to apply for full planning permission for the remodelling and extension of Seiont Manor to provide additional 33 new bedrooms, to provide a total of 61 guest bedrooms. There would also be an extension to the bar, restaurant and spa and the creation of outdoor tennis courts.
Most Read
The company also want to site 39 holiday lodges with reception, ancillary grocery store and activity centre and an 11 bedroom group/staff accommodation block in the grounds.
Separate proposals are also expected for neighbouring Llwyn y Brain manor house, a Grade II building now in a poor condition.
Previous development proposals from from the last owners Paul and Rowena Williams were put forward but never undertaken.
Cadnant Planning said that the hotel is "unsustainable in its current form" and prior to the sale to Mr and Mrs Williams had made a loss for the last 14 years.
They said: "A business plan has been set out by the new investors, initially appraising the viability of the hotel without the additional accommodation. Minimum one-off costs of just under £500,000 of investment would be required to re-open the hotel.
"However, the business plan indicates that the hotel would not be profitable based on the accommodation and facilities available.
"Annual losses, based on 75% room occupancy would amount to over £650,000.
Don’t miss
"Financial models based on provision of additional accommodation and an upgrade of current facilities indicate that with an initial investment of over £800,000 the enterprise as a whole, including phase one of additional accommodation provided through the lodges, would be loss making in year one of trading but would be profitable by year two.
"This would then allow further investment in the hotel expansion, with the development completed within 2-4 years."
Business Live has asked to be contacted by the new owner.
Get your BusinessLive news direct and all in one place
Stay in touch: BusinessLive newsletters have been re-designed to make them even better. We send morning bulletins straight to your inbox on the latest news, views and opinion. Get our breaking news alerts and weekly sector reviews too. Sign up now - it's free and it only takes a minute.