Dalata eyes Sligo’s €7m Clarion Hotel

Ireland’s largest hotel group, Dalata, is interested in adding the Clarion Hotel in Sligo to its portfolio.

The four-star hotel was yesterday brought to market by Savills with a guide price of €7m.

With value in the Dublin market drying up, regional hotels such as the Clarion are becoming increasingly attractive to investors.

Dalata chief executive, Pat McCann, yesterday said he expected the business would prove attractive to a number of suitors and expressed his interest in the hotel which is currently managed but not owned by Dalata.

“We are certainly very interested. We’ll go through the process now, it’s a very fine property and in very good condition,” he said.

Earlier this month, Dalata bought the Clarion Hotel in Cork for €35.1m in a record deal for the Cork market.

At the release of its half-yearly financial results in September, Mr McCann indicated the group was also looking at a number of sites which he hoped could be snapped up in the coming months with a view to developing them over the next two to three years.

The 162-room hotel, which has been in operation on the site of the former St Columba’s psychiatric hospital in the centre of Sligo town since 2005, is being sold by Savills on behalf of receiver Aiden Murphy of Crowe Horwath.

The hotel was placed in receivership in 2012.

The hotel also features a range of food and beverage offerings such as Synergy Restaurant, Kudos Restaurant and Savour Lounge as well as a health and fitness club.

“The Clarion Hotel Sligo is one of the largest and most profitable hotels in the north-west of Ireland. The hotel will attract serious interest from both Irish and international hoteliers.

“The property is available free from the current management agreement and represents a rare opportunity to acquire a unique landmark property and highly profitable trading hotel,” Savills head of hotels and leisure, Tom Barrett said.

Separately, the final remaining section of undeveloped land at one of the country’s best-known retail parks has also gone on sale via Savills.

The land sale, named Q3, at The Park Carrickmines in south county Dublin, is available in either one or two lots and has a guide price of €45m.

The first lot, comprising of 12.54 acres, is zoned for economic development with local leisure objectives also provided for, including the potential to develop a multiplex cinema subject to planning.

Savills suggest the second lot, which at 1.89 acres is much smaller, would be well-suited to filling stations, car showrooms as well as smaller retail opportunities.


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