The debts left after owners of Hilton hotel in North Wales went into administration

The former Hilton Hotel, Dolgarrog
-Credit:Christopher Davies / North Wales Live


The first ever Hilton hotel in North Wales was opened back in 2021 to a huge fanfare. Located next to the surf lagoon at Adventure Park Snowdonia, Dolgarrog, it was a multi-million pound investment by the Ainscough family, backed by Welsh Government funds.

But the surf lagoon closed in the summer of 2023 after a series of mechanical failures. The hotel site - owned by Snowdonia Hotel Ltd - continued to operate under the Hilton branding but Snowdonia Hotel went into administration at the end of 2024.

The hotel was then sold in a pre-pack to Interesting Hotels - with staff transferred over. It has been renamed as IXORA Hotel & Spa and is now trading under that name.

ADVERTISEMENT

READ MORE: Taxi firm Premier Cars 'withdraws services' from Llandudno

READ MORE: 'I climbed 115 steps up historic North Wales monument and it was well worth it'

Now administrator Begbies Traynor has released a Statement of Affairs for Snowdonia Hotel Ltd. It outlines how much the company owes creditors and the assets available to pay those debts.

In total there are 95 creditors - with the amount owed totalling £14.3m. They are estimated to realise £7.13m from the hotel. Administrators also estimate receiving just over £200,000 from stock and fixtures and fittings.

The biggest creditor is banking firm Coutts and Co - who are the first ranked fixed charge holder on the assets. They are owed £6.78m which they are due to receive as they are first in the queue due to the fixed charge.

ADVERTISEMENT

Welsh Government are owed £1.14m - with the government estimated to receive around £349,000 back as the second ranked fixed charge holder.

The third fixed charge holder is Snowdonia Investments - also run by the Ainscough family. They are owed £4.8m and are not due to receive any return.

There is also money available for preferential creditors which includes staff wage arrears and pensions. They are first in line to receive money from the £200,000 raised from the sale of stock and fixture and fittings.

This will meet the £49K bill for wages and pensions and part of the £574k owed to HMRC. When it comes to unsecured trade creditors there is just over £900K owed.

The unsecured creditors include the Hilton brand, connected venture Adventure Parc Snowdonia, Carlsberg Marstons, and food supplier Castell Howell.

ADVERTISEMENT

The total deficiency - the amount owed minus the funds available - is just over £6.5m, a majority of this owed to Snowdonia Investments.

The North Wales Live Whatsapp community for top stories and breaking news is live now - here’s how to sign up