A HOTEL near Rhayader which went on sale with an asking price of £445,000 has been sold.

Hospitality newcomers Kevin and Liz Davies, from Newport, have bought the 11-bedroom Elan Valley Hotel.

Kevin said: "We’ve taken on some tremendous staff and are both looking forward to taking the business to the next level."

The couple had viewed more than 20 different properties across Wales.

Kevin previously worked in human resources roles for a security firm, while Liz ran a business in Newport – but running a hotel will be a new experience for both of them.

The couple have already cut their teeth helping to organise four big conferences at Elan Valley, and the Elan Valley Hotel boasts some of the biggest conference facilities in the area.

Kevin said: "It has been a dream of ours to run a hotel, but it has taken a long time to find the right property in the right place.

"This is a beautiful hotel built in 1880, and we aim to maintain the balance between the restaurant, conference and rooms. We hope to be able to move toward the boutique hotel market to take advantage of the get-away-from-it-all location."

Colliers International Hotels director Peter Brunt, who sold the hotel off an asking price of £445,000, said: "Kevin and Liz have already established a good relationship with the locals and are excited to move the business forward.

"The 11 rooms at the hotel are all in very good condition so they have a good starting point. The hotel is in the heart of Red Kite country and has a strong connection to great outdoor activities such as walking, cycling, bird watching and horse riding - with treks leaving directly from the hotel."

Wales and West hotels specialist Peter added that the hospitality sector had maintained solid progress despite post-Brexit uncertainty.

"The flow of new instructions has continued, neither speeding up or slowing down with offers and viewings continue to come in as before. I see no sign of any choppy waters for the Welsh hotel market," he said.

Vendors Cari and Richard Hydes said: "Peter and his team were very helpful and kept in touch with us often. They took the time to listen to us and offer good advice."