First-time buyers fuel Welsh boom

First-time hoteliers moving to North Wales are fuelling a boom in hotel sales, according to property agents.

The fall in the number of tourists going to Wales does not appear to be putting off would-be hoteliers, many of whom are from the South of England.

Julian Troup, of Christie & Co, said 38% of the hotels sold last year through the company's Manchester office were in North Wales.

This happened in a year in which visits and occupancy levels in Wales fell after five years of growth (Caterer, 19 August 1999, page 10).

While hotels in northern parts of Wales remained cheaper than equivalents in popular areas such as the Lake District, Troup said they had seen a relative price rise last year in line with other regions.

Troup suggested that the large number of first-time hotel buyers may have occurred because they have been attracted by the higher level of turnover relative to purchase price.