Celtic Holiday Parks moves to HSBC as it prepares for growth
Pembrokeshire-based holiday parks operators Celtic Holiday Parks has moved its banking to HSBC as it prepares to embark on a major renovation programme.
The family-run business operates three holiday parks across Pembrokeshire - Croft, Noble Court and Meadow House - offering a total of 285 privately-owned static holiday caravans, 15 rental static caravan holiday caravans and approximately 200 touring pitches and up to 70 tent pitches.
A substantial investment programme is planned on all parks over the next few years, the first of which is the redevelopment of the central facilities building at Croft, including the construction of a new indoor swimming pool, gymnasium, treatment rooms, conversion of the present bar to a Bistro, and a new guest welcome area. Work is scheduled to commence in September and is due to be completed by Easter 2013.
The company is targeting a 20% increase in annual visitor numbers following the upgrade, in addition to a 15% increase on its current 25 members of staff.
The deal sees HSBC's West Wales Commercial Centre take over Celtic Holiday Park's day-to-day banking and the restructuring of existing debt facilities. Senior Commercial Manager Sioned Jones is managing the relationship on behalf of HSBC.
Celtic Holiday Parks was formed in 1999 with the purchase of the first site, Croft, which is set with 13 acres. Noble Court, a 40 acre site, was added in 2003 and Meadow House, set in 16 acres, was purchased in 2006. The company is run by the Pendleton family, with son Huw taking the role of Managing Director, and his parents Vic and Ann having the position of Chairman and Company Secretary respectively.
Huw Pendleton is a prominent member of the local and national tourism industry. He is Chairman of the Caravan and Camping Forum for Wales, a Director of the Wales Tourism Alliance and is Vice Chairman of the British Holiday and Home Parks Association, stepping up to Chairman in 2013.
Laurence Payne, HSBC Area Commercial Director for West Wales, said: "Celtic Holiday Parks is a well known local business that attracts visitors from all over the country. Tourism is an integral component of the West Wales economy and it is important that operators continue to offer top-class facilities to their guests. Therefore, we are delighted Huw and his family has moved to HSBC as they prepare for this exciting project."
Huw Pendleton added: "I'm looking forward to embarking on the exciting reinvention of the park, whilst retaining the charm and tranquillity that Croft has to offer. This park will be the first of the three and we have some interesting plans for the business as a whole going forward. Increasing numbers of people are choosing to holiday in the UK and want to stay in attractive surroundings with quality facilities."
He added: "HSBC was approachable and interested in the business and the market sector. They offered good, old-fashioned banking relationship management and took the time to get to know our family."