Award-winning Swansea hotel and wedding venue pushes for summer return
An award-winning, family-run hotel, pub and wedding venue in Swansea is hoping to welcome patrons back in July following support from Bank of Scotland.
Based on the Gower peninsular, the King Arthur Hotel has secured a six-figure loan from Bank of Scotland via the Coronavirus Business Interruption Loan Scheme (CBILS) to help it cover critical overheads and support its cashflow, including paying suppliers, when the time comes to re-open. The business, which has furloughed around 50 members of staff, has been operating a takeaway-only service since government lockdown measures were introduced to reduce the spread of coronavirus.
While the funding is expected to support the business until the autumn, the hotel’s owners predict that missing out on a full summer of trading could undo nearly 30 years of growth. King Arthur Hotel, which includes an 18th century pub and holiday cottages, has previously been recognised as Wales’ best wedding location.
Owner and managing director Kim Slade said: “We’ve grown the hotel from the ground up, creating a successful wedding venue and a holiday lettings business that brings visiting trade for the local economy in Swansea. While next year will undoubtedly be busy in terms of postponed weddings, losing an entire summer of lettings and activity in the pub and restaurant is almost the same as losing a full year of income.
“Although the Welsh government’s current plan for re-opening the visitor economy is different to the rest of the UK, we’re hopeful that we can welcome guests soon and minimise the impact of lockdown.
“In the interim, Bank of Scotland has been quick to step in and given us the confidence that we will be able to make the most of whatever trading is possible this year.”
David Williams, relationship manager at Bank of Scotland, said: “Kim and her family have demonstrated real resilience in reacting to the challenges brought about by coronavirus. Like many businesses in the hospitality industry, they are planning how best to accommodate for losing out on their most critical period of trade while being reactive to the possibility of opening at short notice.
“The ability to get back up to speed quickly is essential but also comes with significant capital expenditure and uncertainty around cashflow. As such, we’re standing by the side of the nation’s tourism industry and providing the stability for them to re-open with confidence when the time comes.”