Fylde hotels group secures £1.7m funding as five star aparthotel reopens
A Fylde coast hotels company has secured a £1.7m loan to help reopen after lockdown.
OakNorth Bank has provided the funds to HY Hotel a 5-star aparthotel in Lancashire that’s been providing accommodation to NHS and key workers throughout the pandemic.
Launched in December 2019, HY Hotel was previously The Ashton Park Hotel, which closed in 2018, and was also known locally as The Langdales Hotel.
Its reopening created 20 jobs but when the pandemic hit, the hotel like much of the hospitality industry, was forced to close to the general public.
Rather than having rooms remain empty and unused, the team led by Dan Yates decided to provide heavily discounted rates on apartments to all NHS staff and any key workers travelling for work.
Additionally, the hotel provided accommodation at a heavily reduced rate to those shielding or unable to stay at home due to high-risk family members. The self-contained apartments are fully equipped with kitchen and laundry facilities, making them well-suited for the COVID climate.
The hotel was open and at full occupancy through last summer.
It has 35 one and two-bedroom apartments, as well as a gym, pool, Jacuzzi, sauna, coffee lounge, shop and bar.
Dan Yates, co-founder of HY Hotels, said: “We were so excited to open in December 2019, so to be forced to close only a few months later was incredibly disheartening for the whole team.
“However, we didn’t let that dampen our spirits – we pivoted the business so that we could remain open whilst also doing our bit for the local community.
“The occupancy we saw during the summer months have only strengthened our determination to stay open and ensure we not only survive through this crisis, but thrive through it.
“We’re grateful to the team at OakNorth Bank who through providing this finance, have helped ensure HY Hotel has the ability to reach its full potential in the future and take advantage of the re-opening of hotels later this month.”
Stewart Haworth, from OakNorth Bank, which was founded by entrepreneurs in 2015 to support businesses, said: “We’re glad to have been able to support the business, helping to shore up its future and ensure it’s in a strong position to take advantage of the summer staycation boom.”
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