Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Lauren Phillips

Welsh upholstery firm buys hotel following HSBC funding package

A family-run furnishing company has bought a hotel in Wales as it looks to diversify the business. Lyn Morgan Furnishings has moved from rented premises in south Wales to the Elan Valley in mid-Wales where it has purchased Elan Valley Hotel for an undisclosed amount.

The acquisition was made following a six-figure funding packaging from HSBC UK. The company’s owners hope to diversify the business while providing a new space for a showroom and workshop.

It also provides the opportunity to showcase the firm’s furniture pieces which have been chosen to decorate the hotel’s renovated rooms, with six rooms already completed. The purchase will also see 12 new jobs created as a result.

Read more: 'Skyline Swansea would bring 100 jobs and £84m boost to local economy'

Rachel Morgan, manager at Lyn Morgan Furnishings, said: “Thanks to the financial support from HSBC UK, particularly through our relationship director Alison Talbot, we have been able to realise our lifelong aspiration of owning The Elan Valley Hotel.

“We are delighted to have the support of the bank as we embark on the next phase of our business’s journey. We aim to become an integral part of the community, forging strong connections and contributing positively to its growth and development."

HSBC UK area director Ian Coulson said: "This deal not only supports Lyn Morgan Furnishings expansion plans but also breathes new life into the hotel which should provide more employment opportunities for the community and boost the local economy.”

Read more:

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.