The Secret Hospitality Group has acquired Castellamare Restaurant in Mumbles after a seven figure investment supported by Barclays.
The family business which also runs the successful Secret Beach Bar on Swansea seafront, expects group turnover to exceed £7,000,000 this year, following the acquisition of Castellamare and has created 50 job vacancies as the restaurant undergoes a £500,000 refurbishment planned for later this year.
Ryan Hole, Company Director at the Secret Hospitality Group said, “This is an iconic Swansea landmark and we were always interested when we heard the venue was available. We are a family business based in Swansea with a history in newsagents and the hospitality sector. We have major expansion plans and are already looking for quality chefs and hospitality staff to service the planned expansion. Finding quality staff is a real challenge as many employees left the sector during the pandemic and we as business owners within the sector need to attract and provide genuine job satisfaction and a quality work life balance within a challenging environment to retain great talent.”
Helen Baddick, Barclays Business Relationship Manager, said, “As champions of local business, it is essential that we support local growing businesses such as the Secret Hospitality Group. Ryan and his siblings Lucy, Amy and Tom together with Mum and Dad are a great example of family serial entrepreneurs using their experience, passion and skills to develop a successful business. By really understanding the sector, we have been able to create a bespoke funding package to support the business throughout its expansion.”
Ryan Hole continues, “We are well positioned within the local market, with a loyal client base and can use this investment supported by Barclays to grow and diversify our business offering. Running a hospitality business is tough but the rewards far outweigh the downsides even after working long hours. We opened our first restaurant in Uplands in 2017 and quickly followed up with the successful Secret Beach Bar and Kitchen in 2019. We hope our passion, drive and dedication to excellence will allow us to exceed with our latest venture.”