Hotels ‘booked out’

HOTEL sales momentum is continuing to gather pace as the year’s first quarter ends, with sales agreed or closed totalling around €10m at Cork’s Oriel House Hotel, in Ballincollig, in Charleville, and in Wexford’s Bunclody, where the Millrace (previously a Carlton hotel), has just been sold by CBRE.

John Hughes, of CBRE Hotels, said the Millrace had been bought by Vintop Ltd, associated with Almas View Investments, which is based in the United Arab Emirates, and associated with Dublin company, McGettigan Management Services.

The same owners previously acquired the Ambassador Hotel, in Cork City, the Limerick City Hotel (previously Jury’s) and the Clanree Hotel, in Letterkenny, Donegal. Now, the 2004-built, 60-bed Millrace, in Wexford, joins their burgeoning stable. It was priced at €950,000 with CBRE, and may have sold for below that sum, and was offered by receivers, KPMG.