THE Gwydyr Hotel in Betws y Coed, has been sold for the guide price of £895,000.

The 20 bedroom picturesque hotel, overlooking the green in the village, was sold to James Budgen a local businessman and wedding videographer who has decided to diversify into the leisure sector.

The hotel has modern styled breakfast and dining rooms, a TV and sports lounge, two separate owners’ apartments and parking for hotel guests.

The hotel has been privately owned since the 1970’s and has been operated by the current owners for the past six years.

Neil Thomson, of Colliers International the agents who sold the hotel said: “With the General Election behind us and the economic uncertainties of Brexit greatly diminished, the industry is definitely looking forward with renewed vigour.

"There is a perceptible return of confidence within the hotel sector.

"Consequently, we are already experiencing a noticeable increase in demand for hotel businesses in North Wales, with an increasing number of international and domestic private buyers looking to purchase assets.”

"It has been sympathetically renovated to include much of the original character of this period property, yet incorporating a modern edge with stylish décor in its public areas and bedrooms.

Mr Thomson added: "The business has been developed over the years to take advantage of the ever increasing market in Snowdonia.”

He described the attractions of Snowdonia to tourists and which appeal to investors in the hotel sector as positive factors in their decision taking.

He said Snowdonia National Park: "Is a draw for tourists from all over the world and is a mecca for the outdoor pursuit’s enthusiasts including walkers, climbers, cyclists and adrenaline junkies, with Surf Snowdonia, Bounce Below and Zip world located a short drive away."