Prem Group seeking to spend up to €40m on three Days Hotels

IRISH hotel management company, Prem Group is looking for prime locations in Munster for a €40 million investment in three new hotels.

The group are looking for locations in Cork, Limerick and Tralee for three Days Hotels.

“In this instance we are looking for existing hotels or new builds who would be interested in taking a franchise for the brand. This might suit existing operators who want to be part of a major brand but want to retain the management of the property.

“Prem Group can be involved in the hotel management but it is not a requirement. The capital cost of three new build Days Hotels of approx 100 rooms would be about €40m. Conversion of existing hotels would be a lot less, depending on the hotel,” said a company spokesperson.

Yesterday Prem Group announced the opening of Days hotel in Waterford City bringing to nine the number of Days Hotels in Ireland.

Formerly the Bridge Hotel, the 130 bedroom premium three-star hotel has undergone a €5m refurbishment.

The hotel, which has been rebranded as Days Hotel Waterford, and is managed by Barry Twomey and owned by Jim and Bridget Treacy. It will operate as a Days Hotel under license agreement from Wyndham Hotel Group International.

Prem Group managing director Jim Murphy said: “Waterford city is fast becoming a popular destination for both international and domestic travellers. The city has a lot to offer tourists with its great restaurants and vibrant nightlife.

“The Days Hotel brand is synonymous with comfort and quality at an affordable price and we are confident that Days Hotel Waterford will be popular with business and leisure travellers alike.”

Prem Group’s Days Hotel franchise includes hotels in Tullamore, Galway, Dublin, Kilkenny, and Castlebar.