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.
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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.”
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