Kilkenny’s Lyrath Estate hotel and spa back in the black

GOOD profit levels are now recorded at Kilkenny’s Lyrath Estate hotel and spa on 170 pastoral acres, up for sale a decade after it opened at a development cost of €50m.

Seen as a trophy buy, it carries a price guide now of 40% of that, guided at excess- €20m via agents CBRE, acting for receiver Kieran Wallace of KPMG and Bank of Scotland.

It’s the second Kilkenny hotel developed by Kerry entrepreneur Xavier McAuliffe to be sold by receiver Kieran Wallace of KPMG.