Von Essen hotels has bought Llangoed Hall Hotel in Brecon, Powys, for an undisclosed sum.
Set in acres of landscaped gardens and dating back to 1632, Llangoed Hall Hotel is von Essen's second Welsh property, joining Michelin-starred Ynyshir Hall.
The 23-bedroom property showcases the style and fabrics of Laura Ashley, whose husband, Sir Bernard, created the hotel. The hotel is also home to Ashley's restaurant and the Whistler bar.
Part of the acquisition is Sir Bernard's private art collection, including the famous Whistler room, which houses over 20 of Whistler's original drawings.
The von Essen hotels private collection now numbers 31 properties. The move follows confirmation by von Essen last month that it had responded to approaches from several wealthy individuals interested in taking a minority stake in the business to help accelerate its plans for major international expansion.
Andrew Davis, chairman of von Essen hotels, said: "I am delighted to have acquired a property with such an individual history and in such a unique location. The purchase of Llangoed is testament to my ongoing personal commitment to this company and our strategy for continued growth."
Andy Townsend, chief executive of Legacy Hotels and Resorts, said: "Legacy can confirm that von Essen hotels has acquired the Llangoed Hall Hotel in Brecon for an undisclosed sum.
"All the staff were transferred under TUPE (Transfer of Undertakings Protection of Employees) to von Essen hotels including the general manager Drayson Kohli.
"We took over the management of the hotel just over a year ago on behalf of the executors of the estate of the late Sir Bernard Ashley.
"We were appointed to stop the hotel from its historical position of producing operating losses to turn it into a profitable venue while preparing it to be marketed for a trade sale in conjunction with Simon Stevens at Christie and Co.
"Over the last 12 months we have generated a profit turnaround of a little in excess of £300,000 and we have been working closely with all the stake-holders in preparation for a smooth handover to von Essen hotels.
"This 23-bedroom hotel, 4 star deluxe hotel fits perfectly into the von Essen collection and I am sure it will continue to thrive under their ownership.
"I am delighted we have been able to secure yet another profit recovery and business turnaround for our client which maintains our reputation of being sector specialists in this field with banks, institutions and stakeholders."
By Neil Gerrard
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