EXCELLENT VALUE FOR MONEY. Excellent central location, with panoramic views of both North Beach and the harbour. I stayed in February, a winter month, so I kept coming back to my room, to enjoy the beautiful views, which I could never tire of. A real quiet place to recover and relax. Television to enjoy after dark, in a warm cosy room with high ceilings and original plaster coving. Poky B&Bs in back streets with no views at all were charging much more than the Royal Lion. A bonus is that there is Free parking in many streets in Tenby eg. The Esplanade and streets running off it, and it was so easy to find parking spaces. No need to go to a car park. There were only 5 other rooms occupied, and continental breakfast was a delight, with views over the harbour whilst enjoying your breakfast. The outside of the hotel needs refurbishment, but I gathered that the owners are only leaseholders, and the freeholder is responsible for it. But the critical success factor is the low price, plus the magnificent views, and if the hotel invested to become 4 star, guests would not want to pay the much higher rates needed to justify the investment.