Devon hotel group secures HSBC UK funding to re-open its doors after coronavirus

Covid-19 News | Financial Services | Funding | Leisure & Tourism | South West | Sport

A Devon hotel group with the ninth largest golfing resort in the world has secured a seven-figure finance facility from HSBC UK to keep the business running smoothly during the coronavirus outbreak.

The Manor House and Ashbury Hotels in Okehampton are unrivalled in the UK, offering a huge variety of sport, craft, leisure and spa facilities. The hotels comprise 222 and 204 en-suite bedrooms respectively, as well as restaurants, bars, hydro spas and fitness suites.

The hotel group has used the working capital facility to continue operating after having to temporarily close both hotels. Costs included covering maintenance costs for the hotels and golf courses, purchasing Personal Protective Equipment (PPE), installing more than 500 new wall mounted sanitizers and preparing for the new social distancing measures.

The HSBC UK funding was secured as part of the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

Joan and Simon Essex, Owners of Manor House Hotel and Ashbury Hotel, said: “As soon as lockdown was announced, we, like many other businesses in the hospitality sector, realised we were short of working capital to cover significant business maintenance costs and customer deposits refunds. Our relationship manager, Steven Crouch, and his team at HSBC UK were extremely supportive from the outset, giving us more confidence to address our customers with a more positive attitude and more confidence in general that our business will continue to be successful after overcoming these times.”

James Jordan, Head of Corporate Banking, Devon, Cornwall and Somerset, HSBC UK, added: “Manor House and Ashbury Hotels both offer a wide range of activities, so we are delighted that the HSBC UK funding could help them open once again for the public to enjoy. We were pleased to be able to provide funding at this critical time.”

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