Torquay Leisure Hotels secures CBILS

09 July 2020

Torquay Leisure Hotels has secured a loan to help it through the coronavirus crisis and support its reopening plans.

The hotel and serviced accommodation business, which has been in operation since the 1940s, operates four hotels, apartment complexes and leisure centres and provides a range of services for guests – from weekend and spa breaks, to wedding functions and self-catering holidays.

The business was forced to close its doors on 20 March with 359 of its staff placed on furlough during the uncertainty.

The £1m Coronavirus Business Interruption Loan Scheme facility from Santander UK has supported the business during the closure and enabled it to prepare to reopen safely.

As international travel remains uncertain, the group is well placed to welcome staycationers.

Martin Pitcher, relationship director at Santander UK, said: "As the lockdown measures in the UK begin to ease, thoughts turn to summer holidays.

"For many, they will now be looking to stay in the UK, so I am delighted that our funding has enabled Torquay Leisure to reopen. This will provide crucial support to the local economy and vital hotel and leisure employment, as well as a much-needed break for many Brits."