145-bed hotel sale at airport is set to fly

CORK International Airport Hotel should fly at its €4.75 million asking price, given its quality, location — and trading figures.

The guide price is about 15% of what it cost to develop, so a new operator will be coming in with a very low capital cost, relative to its value and income potential.

It mightn’t be the most expensive hotel to come to the Cork market — that honour belongs to the Fleming Group’s Fota Island Resort, under very active viewing. Fota’s sellers rs are seeking €20m for a package that cost €90m to develop, but the airport offering is the largest in terms of beds for many years — the profitable Cork International Airport Hotel has 145 beds.