The Bulldog Hotel Group has acquired the three-AA-star, 25-bedroom Royal Oak hotel in Welshpool, Powys, just days after securing a £4.5m investment from the Business Growth Fund.
Located in the heart of the market town - home to one of the largest indoor cattle markets in Europe - the Grade II-listed, 18th century property was bought for an undisclosed sum from the Bebb family of local farmers. It becomes the eighth property for Bulldog, which has plans for a £20m expansion of the group to some 14 outlets over the next three to four years.
The Royal Oak will now undergo a major refurbishment, which will include the decoration of the bedroom started by the previous owners and a new look to the food and beverage areas.
Kevin Charity, founder and managing director of the Bulldog Hotel Group, said: "We have ambitious plans for the next few years and the Royal Oak is a great example of what we do.
"Based just four miles from the English border, the Royal Oak is clearly the focal point of the town and has for centuries been the hub for visitors and local residents alike. There is already a great core trade and so we are excited to see where we can take it."
Malcolm Bebb added that the family had decided to sell the hotel in order to expand its farming businesses. "The Royal Oak has an amazing heritage in Welshpool and the past ten years have been no exception, with the hotel hosting many memorable occasions, from the recent Government public enquiry for wind farms, to the all-time high of having HM Queen and Prince Philip for lunch (to open the new cattle market).
"We would like to thank all our loyal staff and customers for their dedicated custom and service over the past ten years and wish Bulldog Hotel Group ongoing success in Welshpool."