The owners of a surf lagoon and Hilton hotel in North Wales is seeking external investment to help further develop the park after "unexpected costs". Adventure Parc Snowdonia - initially Surf Snowdonia - opened the UK's first inland surfing lagoon back in 2015.
The site later expanded with a £16m investment into an Adrenaline Indoors facility as well as a Hilton Garden Inn hotel. Both investments were supported with multi-million pound grants from Welsh Government.
They say they're proud of what has been achieved at the site but that they've been hit by "big challenges" and "unexpected costs". Adrenaline Indoors opened just months before the Covid pandemic while the surf facility has at times been impacted by machinery failure that has halted surfing.
It means they now want outside investment for the park. They added that "in theory" this could involve selling on the site.
Director Andy Ainscough said: "We are currently looking for outside investment for the Parc. We’re very proud of what has been achieved at the facility but over the last three years have suffered from big challenges including a substantial amount of unexpected costs.
"Whilst the Hilton Garden Inn Hotel and Spa has performed very well since opening in May 2021 and done for the Adventure Parc what we had hoped it would. We hope any further investment can only add to what we have already created in the Valley and take us to another level. We are still very early in the process and whilst, in theory, the investment could come in the way of a sale, we simply do not know at this stage."
The company has made recent lay-offs following a recent breakdown on the lagoon. Other facilities continue to operate as normal.
Andy added: "The recent layoffs are unrelated to any investment opportunities, it's already been reported that the wave machine had a technical issue in the second half of August and as a result there is no need for surf instructors and some of the supporting team based around the surfing operation. Combine that with a cost-of-living crisis and pending electricity costs we had to make some changes as any business would."
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