The Bristol office of leading business agents, Christie and Co, is delighted to announce the recent sale of Tenby's Giltar Hotel, on behalf of the retiring owner Miguel Gonazalez-Lopez, who is returning to his retirement home in native Spain, after 35 happy years at the helm.

The hotel has been purchased by business partners Malcolm Brace and Patrick Jenkins, who have expressed real delight in taking over the hotel with which they are already familiar, Malcolm having worked there as general manager and Patrick as bar manager for several years.

Malcolm and Patrick plan to further develop the business by upgrading the hotel and attracting a broader customer base for this well-established hotel.

Jonathan Hill, director of Christie and Co's Bristol Office, who handled the sale, commented: "The sale of the Giltar Hotel confirms buyers' continued appetite for hotel business opportunities with potentially greater returns than the financial market."

The Giltar Hotel was sold for an undisclosed sum off an asking price of £1,950,000 for the freehold interest.