£1m to be invested in Shropshire hotel resort
The owner of a four-star hotel resort in Shropshire is planning to invest a further £1 million into the site after securing a finance package of £17 million.
Lion Quays Resort near Oswestry is owned by serial entrepreneurs Dr Ashok Bansal and family, whose portfolio also includes a number of nursing homes in Wales and an IT company, Medic Creations.
The new funding arrangement from Allied Irish Bank (GB) will enable Dr Bansal to continue his ambitious development programme at the resort as well at his Langstone Quays Resort in Hampshire.
Lion Quays was purchased by the Bansal family in 2015. Set on the Llangollen Canal near Shrewsbury, the resort’s facilities include 82 bedrooms, seven conference and events suites catering for up to 400 guests, and two restaurants plus Café Ash, which was opened this spring. Lion Quays has already benefited from a £1.5 million investment in its bedrooms, conference rooms, waterside restaurants and bar. A further £1 million is planned to extend the resort’s leisure club and spa facilities.
Mike Tierney, head of Allied Irish Bank (GB)’s hotel and hospitality team in the Midlands, who led the deal with colleague and hotel specialist Morgan Keating, said: “Ash is an entrepreneur whose passion for his business is obvious as soon as you meet him. He has a strong vision of what he wants to achieve at his resorts, with a focus on creating fantastic guest experiences through a combination of high quality facilities and service levels.
“Ash and his family are supported by a very impressive senior hotel management team of Paula Walker and Colin Jenno who share his vision, ambition and drive to create two unique resorts. The resorts appeal to a wide range of guests, both corporate and leisure and we believe that the investment plans in place will help create the potential for further growth across all areas of the business.”
Dr Bansal said: “Since being introduced to Allied Irish Bank (GB) I’ve been very impressed. Mike and Morgan truly understand the hospitality sector, which is a real benefit to my business and they’ve been very responsive and helpful. Our resorts are benefiting from the uptake in ‘staycations’ and we’re also intent on capitalising on the popularity of spa breaks as well as the continuing growth in health and leisure centres.
“I fell in love instantly with Lion Quays. It has great heart and soul and with Allied Irish Bank (GB)’s support we’re well on the way to improving the facilities to match.”