Hotels

Llanberis hotel triples turnover after £85k funding boost

The Padarn Hotel in Wales has tripled its turnover through funding deals worth more than £85k in total.  

The property received a transformational overhaul after being purchased by entrepreneurial couple, Lesley and Simon Wilson in 2016, with turnover now three times higher than when they acquired the venue.

Its team has also increased from six to 35, in order to meet the demands of its growth, with the majority of its employees recruited from the local area.

Originally called the Padarn Lake Hotel, the property had once been a magnet for tourists visiting Snowdonia, but had fallen into disrepair and was operating at a loss.

Lesley and Simon, who have lived in the area for more than 30 years and operate a number of other holiday rentals, said they spotted the site’s “potential” and worked with West Kirby-based Bathgate Business Finance to secure funding for their ambitious plans.

Since taking ownership of the hotel, the couple have completely modernised and refurbished the building, adding two new bedrooms, a multipurpose meeting/training room with breathtaking mountain views and improved its dining offer. 

Lesley Wilson, owner of The Padarn Hotel, said: “From the outset Bathgate Business Finance have thought outside the box when it comes to funding options and, as we are a seasonal business, they have helped us to find effective ways to manage cash flow, such as VAT finance.

“As a hospitality business, banks and traditional lenders see you as high risk. But Bathgate, along with our parents, have been our biggest backers and we are grateful for their support. The relationship we have built with Gordon, Esther and the team is incredibly important to us.”

She added: “They are always supportive, quick to respond and their personal service, actually coming to see us at the hotel and checking in with regular phone calls, is what really makes them so different to other lenders.”

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