One third of Irish hotels have new owners since 2011

One third of Irish hotels have changed owners since 2011, including four out of five in Cork City, generating almost €2.5bn in sales, according to a study by property consultants Savills Ireland.

High-profile transactions in Cork in the past six years include Ireland’s largest hotel operator Dalata taking over the former Clarion and Silver Springs at Lapps Quay and Tivoli and rebranding them under the Clayton banner.

The River Lee Hotel, the Ambassador on Military Hill, and The Radisson in Little Island also changed hands since 2011.