One of the country’s top hotels, the Aghadoe Heights in Kerry, has been sold to an international hotel investor.
The private deal on the five-star hotel was confirmed by its former owners, Jerry and Anne O’Reilly, who have held the property since 1998.
No details were provided as to the price it went for or the identify of the new owner, except that he is an “unnamed European investor with significant international hotel interests”.
The sale was handled by the Davy Group.
In a statement, the O’Reillys said the decision to sell had been made following a number of unsolicited approaches from potential domestic and international purchasers.
“The market for well-invested, well-located, and profitable hotel assets is exceptionally buoyant at present and represents a window of opportunity for the owners,” a spokeswoman said.
It is understood the new owner stayed in the hotel previously and was so impressed he decided to make an offer in what he saw as a strong luxury brand.
The hotel has been managed by Pat and Marie Chawke since 2000. Pat Chawke said the hotel is being sold as a “going concern” and the management and 70 full- and part-time staff would ensure it was business as usual for customers and suppliers.
He thanked the O’Reilly family for their support and commitment to the hotel for the past 14 years.
“The new owner has a tremendous insight into the international luxury travel market and we look forward to a new chapter, a bright future, and introducing many more customers to the Aghadoe experience.”
Jerry O’Reilly said: “We have very much enjoyed our association with the Aghadoe Heights Hotel & Spa and are very proud of the achievements of the hotel and the staff.
“Since we bought it in 1998, the commitment of the management and staff and the support of the people of Kerry and beyond have been tremendous.
“I am sure that the new owner will continue to support this great team to continue to deliver exceptional customer experiences.”
Meanwhile, two commercial units on the Limerick Rd in Mallow, Co Cork, totalling 1,536m sq, have sold at auction for €1.55m.
The warehouses, described by Allsops as the Advance Pitstop and An Post units, had a reserve range of between €1.05m and €1.15m and total current rent reserved of €133,000 per annum.
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