Sandy Mount House, a boutique hotel, bar and restaurant on Anglesey, has been acquired by its employees. Owners Phil and Louise Goodwin have transferred ownership of the Rhosneigr venue to an employee ownership trust (EOT).
The couple transformed the former Sandy Mount Club in 2018 and spent a further eight years building it into a hospitality destination. The venue employs around 50 people and attracts visitors from across the UK and around the world. The value of the deal has not been disclosed.
Why the owners chose an EOT
With a strong senior management team in place, the couple decided to hand the reins of the business over to its staff via an EOT. The hotel holds a five-star gold rating from Visit Wales and its restaurant has an AA Rosette award.
Co-owner Phil said: “When we took on Sandy Mount House, we had a vision to create something special in Rhosneigr. A home from home for locals and visitors alike.
“We decided to take the plunge and give it a go. 'How hard can it be?' I thought. Neither of us had any experience in hospitality and after many ups and downs and with a lot of hard work, we are proud to have created the team and the business that exists today.
“Dan Pritchard (manager) and the team we now have are excellent and are like family to us, so when it came to thinking what is next, the move to an EOT seemed the perfect solution.”
Keeping jobs and the hotel in the community
Co-owner Louise added: “We have considered selling Sandy Mount House at times over the eight years we’ve owned it but felt that it would be all wrong to see our hard work, our beautiful hotel and our valued team being taken over by a big company with all the resultant job losses that would likely bring.
“The management team has been taking over more and more of the day-to-day running of the business, so an EOT seemed like the perfect way to keep the hotel embedded in the community and keep the jobs here for local people too.”
The couple will remain with the business for a few months to ensure a smooth transition period before the EOT fully takes over, and they will also retain ownership of the building. Louise will remain a key part of the business as a member of the EOT trustee board, along with independent trustee board member Mike Williams, an employee ownership consultant from Cwmpas, and Helen Roberts, a supervisor at Sandy Mount House.
New leadership and support
The hotel and restaurant’s board of directors will comprise its manager Mr Pritchard, Sandy Mount House’s longest-serving employee and maintenance manager Gary Phillips, and finance manager Iolo Jones.
Phil and Louise were supported through the transition to EOT by the Employee Ownership Wales service from Cwmpas. It is part of Social Business Wales and of the Business Wales family, both funded by the Welsh Government. It supports businesses navigating the transition into employee ownership.
Mike Williams said: “It's been great to work with Louise and Phil, as well as the management team at Sandy Mount House, on its transition into employee ownership.
“This hotel is a jewel in the crown of Ynys Mon and so it’s so good to see that it won’t be swallowed up by a larger hotel chain and that the close knit, community feel that the Goodwins and the team have created at Sandy Mount House will remain for the foreseeable future.”
Phil and Louise and the team were supported throughout the process by legal advisers TLT and with accounting support from Criccieth-based The Hospitality Accountant. The business was valued by Azets.
Lucy Hedges, senior associate with law firm TLT, said: “It's been a pleasure to support Louise and Phil in transitioning Sandy Mount House Rhosneigr Limited to employee ownership.
“By choosing the employee ownership model they have created a lasting legacy that protects the independence and future of the business, benefits its employees, and helps ensure the company continues to make a positive contribution to the community it serves.”
Katherine Broadhurst, corporate finance partner at Azets, added: “I am delighted that the ownership of Sandy Mount House is being retained locally for the ongoing benefit of its employees and those people who dine and stay in this glorious location in Wales. We wish them all the best for the future.”
