Origins

The Company started with the purchase of a site at Ferryside for the development of a five star hotel. When an offer for the Stradey Park Hotel was accepted, efforts were concentrated on financing and redeveloping the property. This was probably the biggest challenge facing the newly formed company - not only did finance have to be found for the property, but considerable further funding was required to upgrade the hotel. Limits on funding meant that an initial refurbishment took place in 2000, followed by a second program of investment the following year, and the main challenge was to complete the refurbishment on budget, and on time. The company operates in a diverse market place. The business is supported by local business, national and international tourism, and the domestic market. Major clients include Corus, Calsonic, and sporting events such as the Wales GB Rally.

Success Factor

The first main factor was a commitment by the directors to a program of maximum reinvestment in the business. The company also made an investment in an IT provision giving it the capability to produce accurate management accounts, monitor cash flow and wages, and support accurate forward projections. Finally, growth has been supported by the development of a strong team of professionals working with the company. Company accountants, solicitors, bankers, and architects, provide the advice and support necessary to take the business forward.

The Future

The main aim of the business is to develop and expand the branding as Gryphon Leisure Hotels. There is a commitment to the development of quality hotel accommodation in Wales and the next project for Gryphon Leisure is to build a new hotel and spa facility in the four/five star market.