A family-run bespoke furnishing company has acquired a hotel based in mid Wales thanks to a six-figure funding package from HSBC UK, amid growing demand for the company’s upholstered furniture.
Lyn Morgan Furnishings, founded in 1999 by Lyndon and Rachel Morgan, has moved from rented premises based in Monmouthshire to the Elan Valley, where it has bought the Elan Valley Hotel thanks to the assistance of HSBC UK.
The purchase of the hotel fulfills the couple's dream of owning the hotel to diversify its business while providing a new space for a showroom and workshop.
The funding provides an opportunity to highlight the craftsmanship of the furniture pieces, which have been carefully chosen to decorate the hotel's renovated rooms.
With the conversion of six rooms already complete, the Morgans will provide a venue that meets the tourism demands of the region, while creating 12 job opportunities for the local area.
Rachel Morgan 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."
Ian Coulson, area director at HSBC UK, 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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