LQ Resorts acquires Parkway Hotel and Spa backed by Development Bank of Wales funding

Daniel Bevan - Editor

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LQ Resorts has expanded its UK portfolio with the acquisition of the Parkway Hotel and Spa in Cwmbran, supported by a seven-figure loan from the Development Bank of Wales.

The long-established spa and resorts operator, which runs three destination resorts including a flagship site near the Welsh border between Oswestry and Wrexham, has added the 80-room Parkway Hotel and Spa to its portfolio.

Set within more than seven acres, the venue is well known for spa breaks, conferences, weddings and leisure stays.

Funding for the deal was provided through the Wales Tourism Investment Fund.

LQ Resorts has already begun upgrading the site, including installing new gym equipment and refurbishing the bar area, with further investment planned.

Colin Jenno, Director at LQ Resorts, said: “The Parkway Hotel and Spa was a natural fit for us.

“Its established spa and strong local reputation align perfectly with our resort model.

“We value its family-run heritage and will continue to empower local managers to maintain the loyal customer base while we invest in future growth.

“The Development Bank’s support ensured a smooth transition, allowing us to retain the existing team and start improvements immediately.”

Clare Sullivan, regional manager for new investments at the Development Bank of Wales, said: “LQ Resorts has built a strong brand with a reputation for high-end service at their existing chain of spas, and the acquisition of the Parkway Hotel and Spa is a great addition to their portfolio.

“We’re glad that our support has enabled them to seize the opportunity quickly.”

She added: “We’d also like to thank Chris Thomas of SME Finance for advising on the deal, and James Guile of Hugh James for providing legal support.”

The £50 million Wales Tourism Investment Fund, financed entirely by the Welsh Government, provides loans ranging from £100,000 to £5 million to support distinctive tourism projects aligned with government priorities, including high-quality visitor experiences, innovative attractions and flagship developments across Wales.