The 83-bedroom hotel, which includes two restaurants, a bar and ballroom, has been run by the Devoy family for the last 36 years who decided to 'discreetly market' the property earlier this year.
Northern Powerhouse Developments, which also owns Caer Rhun Hall and the Belmont Hotel in north Wales, plans to invest in the hotel while continuing to run it as a family-focused venue.
"We are delighted to have secured ownership of this iconic hotel and are looking forward to continuing the success the Devoy family have enjoyed for nearly 40 years," said chairman Gavin Woodhouse. "The Queens enjoys an enviable position in the heart of this famous seaside town and together with our hotel management group Giant Hospitality, we plan to invest even further in the hotel to ensure it attracts the next generation of holidaymakers.
"It is our intention to build upon the success the Llandudno Bay Hotel has enjoyed, and while The Queens will attract a different type of guest we want to make it the ultimate destination for families to come and stay and enjoy all that Llandudno has to offer.”
Passing the hotel's ownership over, the Devoy family thanked staff for the 'their dedication and hard work in making the Queen's hotel so successful'
"We would also like to thank all the local trades people and suppliers who have served us so well over the years. Last, and most importantly, we must thank our customers, locally and from far and wide, including many local groups and organisations. Your support and custom has been invaluable and very much appreciated. It has been a pleasure for us to have been associated with everyone and we wish the new owners and The Queens every future success.”