Demand for hospitality and leisure businesses in Wales, including two high profile sales in Gwent, are at their highest since before the recession, fuelled by an improving economy and greater availability of funding.

One notable transaction was the sale of Maes Manor Hotel, a 28-bedroom country house hotel in Blackwood with spectacular views across its nine-acre picturesque gardens and the valley. The hotel was brought to the market at the beginning of February and a sale was swiftly agreed to experienced leisure operators Warner Hotels Limited following a short period of open marketing.

Another was the sale of the Michelin Guide-featured Raglan Arms in Llandenny, Monmouthshire, which was sold off a £370,000 guide price.

John Coggins, licensed specialist at the Cardiff office of Christie + Co, said: “As we predicted in our Business Outlook in January, demand for hospitality and leisure businesses has continued unabated in the first half of 2015. Despite a fair share of challenges that the Welsh economy has faced in 2015, both sectors have reported highly positive results.

“The demand is driven by a number of factors including the improving performance of both the licensed and hotel sector, with recent data from Barclays showing average pub turnover up by 23 per cent since March 2012.”

He said: “Banks are also demonstrating a willingness to provide debt to fund acquisitions throughout the country, helping to attract new blood to the industry. Data shows that that the number of pubs owned by landlords aged between 25 and 34 has increased by 25 per cent in the last three years and 42 per cent of pub businesses were established in the last three years.

“There has also been good news for the tourism industry, which continues to see growth and in 2014 enjoyed a record breaking year with overnight visits to Wales by GB residents hitting 10 million for the first time.”