Leading coach holiday operator Shearings Holidays, which already owns and operates 31 UK hotels, has acquired its first property in Wales.
It has bought the 82-bedroom Marine Hotel in Llandudno, formerly owned by property company Ascot Holdings.
Shearings, part of the Rank Organisation, now plans to spend £500,000 on refurbishment and development of a new entertainment area within the hotel.
The Marine will eventually be used exclusively for Shearings clients, but all existing bookings for this summer are being honoured.
The former general manager of Shearings' Lynwood Hotel in Eastbourne, Mick McLaughlin, replaces the hotel's locum manager as acting general manager.