PropertyIndex reveals £400,000 extension to Barry Island Hotel
A Barry-based property developer has extended one of its hotels on Barry Island after securing £400,000 funding from HSBC.
PropertyIndex has completed the extension of the Mount Rooms Hotel in the seaside town, renovating a derelict building into 14 new rooms and creating five new positions.
The hotel plans to increase its revenue by 40% from the extension as it seeks to capitalize on the increased number of tourists visiting the city.
PropertyIndex’s property portfolio includes a range of workspaces, hotels and residential properties in Wales.
Chris Spiteri, co-director of PropertyIndex with Emma Ballson, said: “Barry and the surrounding area is benefiting from an increase in tourism, so in response we have created boutique-style rooms that build on the reputation of the hotel.”
He added: “We have worked with HSBC UK for two years and the team have always been extremely helpful in understanding our needs and supporting our expansions.”
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Regional Director of HSBC UK Business Banking in Wales, Zena Perry-Hartle, said: “With demand for stays in the UK on the rise since the start of the pandemic and holidays in Wales becoming more and more more popular, the Mount Rooms Hotel was facing growing demand to accommodate more tourists. We have seen the whole business go from strength to strength over the years and we look forward to seeing it continue to grow and build more properties in the area.