Oswestry's Lion Quays owners receive huge cash boost from Allied Irish

Entrepreneurs Dr Ashok Bansal and family own the complex, with a portfolio including a number of nursing homes in Wales and an IT company, Medic Creations.

The new funding arrangement from Allied Irish Bank (GB) will enable Bansal to continue his ambitious development programmes at both luxury resorts.

Dr Bansal said: “Our resorts are benefitting from the uptake in ‘staycations’ and we’re also intent on capitalising on the popularity of spa breaks as well as the continuing growth in health and leisure centres.”

Lion Quays, purchased by the Bansal family in 2015, has 82 bedrooms, seven conference and events suites catering for up to 400 guests, and two restaurants plus Café Ash, which was opened this spring.

It has already benefited from a £1.5m investment in its bedrooms, conference rooms, waterside restaurants and bar, with a further million now planned to extend the resort’s leisure club and spa facilities.

They also plan to improve facilities at their other hotel in Langstone Quays, Hampshire, was added to the Bansal family’s portfolio a year ago.

Located on the Chichester Harbour, the 148-bedroomed resort was regenerated last year with a £1.2m investment that saw the refurbishment of its bar, restaurant and wedding and events suite.

A further £1m is planned to create a ‘unique leisure destination’.

Mike Tierney, head of Allied Irish Bank (GB)’s hotel and hospitality team in the Midlands, who led the deal with colleague and hotel specialist Morgan Keating, said: “Ash and his family are supported by a very impressive senior hotel management team of Paula Walker and Colin Jenno who share his vision, ambition and drive to create two unique resorts.

"The resorts appeal to a wide range of guests, both corporate and leisure and we believe that the investment plans in place will help create the potential for further growth across all areas of the business.”