The 112-bedroom Celtic Royal hotel in Caernarfon, has been sold for an undisclosed sum to a private investor advised by South African-based Fairtree International.
Located within a Grade II-listed building dating back to 1794, the hotel has been sold by Markus and Sinead Donsbach. It will be managed by Providence Hospitality, which, together with Fairtree International, forms part of the Fairtree group of companies that operates hotels and resorts in the UK and South Africa.
Providence's 16-strong portfolio now includes nine hotels in the UK, including the Rosevine hotel in Truro, Cornwall, and the Headland hotel in Torquay, Devon.
The Celtic Royal features the 100-cover Draco restaurant, ballroom for up to 320 people, a leisure club with swimming pool and Summit Bar bistro.
Joe Bester, director of Providence Hospitality, said: "The signing of the Celtic Royal Hotel forms a major part of Providence's accelerated growth strategy within the UK. We are determined to develop quality business and leisure circuits for our loyal guests, in key provincial locations around Britain through our affiliations with Fairtree and all our partners."
Julian Troup, head of UK hotels agency at Colliers International, secured the sale. He said: "There was competing interest in the hotel and the decision was taken to proceed with a proven buyer eager to further expand in the area."