An eighteenth-century country hotel in Stallingborough, North East Lincolnshire, has expanded its operations after securing a six-figure business loan from HSBC UK.
The thatched Stallingborough Grange Hotel used the funding to open its new ‘Buttercross Suite’, a stand-alone, 200-seat venue built predominantly for weddings due to its large capacity, tall arch windows and outdoor gardens. The new function room is also suitable for other types of events, such as corporate conferences and private parties.
The new, larger suite is expected to elevate the overall event experience for customers and gradually grow the family-run business. The hotel has created 10 full and part-time jobs, including a new marketing manager, kitchen, housekeeping and waiting staff to help manage the new space.
Heather Dutton, General Manager, The Stallingborough Grange Hotel, said:
“Next year marks 30 years since our family bought the hotel, so it’s such a special time for us. We are incredibly happy with the new suite. Its additional space and natural light will allow us to deliver the ultimate experience for our guests. We want to create extra special memories for our customers and the new suite will help us achieve this. I would like to thank our Relationship Manager at HSBC UK, Dave Benson, who has supported the venture since the beginning.”
Paul Armstrong, Area Director of East Midlands Business Banking, HSBC UK, said:
“HSBC UK were happy to support the hotel with its expansion plans. The new, purpose-built facilities will see the popular village hotel and restaurant grow in popularity and will help it stand out to its competition. It’s an exciting time for Heather and the family so I wish them all the best for the future.”
The six-figure loan from HSBC UK was part of a seven-figure funding package, including family savings that contributed 40 per cent to the overall cost of the project and a Rural Development Grant.
This deal is part of HSBC UK’s £500 million lending fund to support small and medium-sized enterprises (SMEs) in the East Midlands.
The family converted their home in 1989 to open The Stallingborough Grange Hotel.