Devon Golf Resort borrows seven-figure sum to overcome Covid-19 shutdown
A Devon hotel group with one of the world’s largest golf resorts continued to operate during the lockdown thanks to a seven-figure funding facility from HSBC UK.
The Manor House and Ashbury hotels in Okehampton offer sports, crafts, leisure and spa facilities and have the ninth largest golf resort in the world.
The two hotels, with a total of 426 rooms, used working capital to keep operating when they were forced to close due to Covid-19 restrictions.
Joan and Simon Essex, owners of the Manor House Hotel and the Ashbury Hotel, said: ‘As soon as the lockdown was announced we, like many other companies in the hospitality industry, realized we were running out of funds. working capital to cover the significant maintenance costs of the business and the customers. repayments of deposits.
âHSBC UK has been extremely supportive from the start, 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 weathering these times. “
The hotel group used the money to cover the costs of maintaining hotels and golf courses, purchasing personal protective equipment (PPE), installing more than 500 new wall disinfectants and preparing for new social distancing measures.
The funding for HSBC UK was secured through the government-backed Coronavirus Business Interruption Loan (CBILS) program.
Pig Hotel Group hotelier Robin Hutson was among the leading figures in the hospitality industry to lobby the government for support during the lockdown.
In April of this year, he said the Pig Group took out a multimillion-dollar loan “just to keep the doors shut” during the lockdown.
And Covid-19 has delayed the opening of the Â£ 13million Pig at Harlyn Bay, which finally opened in July.