By Daniel Hunter
The Ramada Park Hall Hotel and Spa’s new owners are embarking on a major upgrade of the hotel after securing a £1.5 million finance facility from HSBC’s Midlands Commercial Team.
The hotel, based in Goldthorn Park, Wolverhampton, will refurbish all 75 bedrooms, the ballroom, function rooms and the spa and leisure facilities as part of the 18 month programme. The Grade II listed hotel is set in five acres of grounds and was the original home of the Dudley and Ward family.
The hotel was purchased out of administration by R S Power and Partners in November last year for an undisclosed sum, safeguarding over 100 jobs. The new owners intend to increase its level of corporate and events businesses, such as weddings, as a result of the upgrade, as well as improving room occupancy rates.
“Our rooms and facilities are already of a very high standard but we want to make sure that we are offering our guests the best facilities in the area," proprietor R.S Power commented.
"This significant refurbishment programme will deliver stylish and contemporary rooms, as well as top of the range leisure and spa facilities. The hotel has a very promising future and we look forward to welcoming both long-standing and new guests over the coming months and years.”
The deal was led by HSBC’s Midlands Senior Commercial Manager Paul Witter, who sits within the Midlands Commercial Multicultural Banking team.
“The Park Hall is a top class hotel but hotels have to remain contemporary and modern to stay ahead of the game," he said.
"This investment will allow the hotel to do just that and we are pleased to be working with the new owners as they embark on this major refurbishment programme.”
Roy Harris, HSBC’s Regional Commercial Director for the Midlands, said: “We are delighted to be supporting this business, which has helped save an iconic Wolverhampton hotel and secure over 100 local jobs. The Midlands hotel market is extremely competitive but this property is well situated for corporate, tourist and event trade, making it a compelling proposition.”
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