Blackpool entrepreneur kick-starts foundation for hotel empire
A Blackpool entrepreneur has expanded his portfolio of hotels after securing six-figure funding.
Malaya Nayak has used a £246,000 funding package from NatWest to purchase two boutique hotels, The New Valron and the Garvey’s Promenade Hotel, in Blackpool, with a combined turnover of £370,000.
The Garvey’s Promenade Hotel has 46 en-suite bedrooms, including six sea view rooms, and on the neighbouring street, The New Valron has 21 en-suite twin, double and family rooms.
Both hotels are located just metres from the seafront and Blackpool’s South and Central Piers.
The family-run businesses will continue to focus on providing quality accommodation and service to boost their existing four-and-a-half-star rating on TripAdvisor.
Malaya, an IT professional specialising in the hospitality sector, previously ran the Henson Hotel in Blackpool.
Using his 22 years’ experience in the industry, he will manage the hotels alongside a team of 20 staff across both sites.
Malaya has already employed three additional staff and hopes to expand the team further over the Summer season.
The entrepreneur will continue to expand his hotel portfolio, with the ambition to own more than seven hotels across the UK within the next 10 years.
He said: “My ultimate goal is to own a series of affordable, boutique hotels where the customer is always the priority, unlike in larger chains.
“Thanks to the funding from NatWest, I have been able to take the first steps towards fulfilling this dream.”
Rosamond Mobbs, relationship manager at NatWest, said: “Malaya’s innovative approach and entrepreneurial attitude is a credit to himself and the industry. We were more than happy to offer the funding and support to help him secure his first two hotels and look forward to continuing to work with Malaya throughout his journey.”