The Eryl Mor Hotel in Bangor is up for sale, with an asking price of £1,050,000.

 

The popular Bangor hotel boasts panoramic coastal views with 21 en suite letting bedrooms, a Bar with 30 covers and restaurant with 64 covers.

Adjacent to the main property is a further three storey brick detached property (Bryn Seiriol) which was acquired by the current owners in 1991 to add a further nine bedrooms.

The main hotel houses the reception area, bar and restaurant. To the front elevation, overlooking the pier, is a glass conservatory built in 1996, which covers the whole length of the property.

The venue has been popular with locals and visitors for years and is a widely used venue for events like Weddings, Funerals and Christenings.

The Opportunity

The Eryl Mor hotel has been operated under the same ownership for over 30 years and is being offered to the market due to the owner’s decision to retire.

Due to its enviable location, its stunning views and its short walk to both Bangor university and Bangor city centre, the hotel receives a consistent level of occupancy (85%) throughout the year.

The current tariffs for bed & breakfast range from £60 per night for a single room up to £110 per night for a family room. The agents believe that this business offers an experienced hotel operator the opportunity to acquire both an established and successful hotel within a strong trading location, with the potential to build upon the current food and beverage trade. The split between accommodation, wet sales, and dry sales is 62%, 13%, and 25% respectively.

Staff

The hotel is owner operated with a complement of eight full time staff.

Trading Information

Accounting information provided by our clients for year end 30 April 2019 (2 months COVID affected) show a net income of £517,353 with a gross profit within the region of 75%, and a net profit, before depreciation and finance costs, of £87,941.

All fixtures and fittings are to be included within the sale however, any items that are owned by a third party or personal to the clients will be exempt.

For more information visit: https://www.christie.com/5646673