Hotel offer in Killarney
Listed this month for the owners, who are now retiring, is the 24-bedroomed Brook Lodge Hotel, on the Monsignor O’Flaherty Road, right next to Killarney’s High Street, making it a very central and accessible accommodation spot in one of the country’s busiest tourism locations.
Built in the late 1990s, and highly rated over the past five years on Tripadvisor’s Travellers Awards, the four-star hotel is on 1.1 acres, trades very well — “and is a walk-in job for any new owners,” according to joint selling agent Tom Spillane, acting with Sherry FitzGerald Coughlan.
There’s considerable further potential with the property, which was built capable of taking further floors, and the 1.1 acres are landscaped, with parking, but also capable of further expansion.
Because of the setting right by High Street, there’s scope too to bolster both bar and restaurant trade, notes Mr Spillane, saying overall condition is excellent and trade already very good.
Generations of the Counihan family have been involved in local tourism since 1894, their website boasts, and new owners can come for a wide background, say the joint agents, indicating expectations of calls from existing local operators, other hotel groups (Brook Lodge has stayed unaffiliated until now), as well as inquiries from the UK and the US.
Meanwhile, Irish hotel operators FBD Hotels & Resorts — who earlier this month confirmed the sale of their Waterford 130-bed Tower Hotel as a going concern and employing 120 to Neville Hotels for an unconfirmed €10-15m — this week announced a €55m joint venture in Spain.
Owners of Waterford’s Faithlegg Hotel and the Castleknock in Dublin which is undergoing a significant extension, FBD Hotels & Resorts yesterday confirmed reports of the €55m joint development at its La Cala Resort in southern Spain.
It will consist of 158 units, 107 apartments and 41 townhouses, in partnership with Taylor Wimpey Spain.
It’s the third joint venture between FBD H&R and FTSE 100 company UK housbuilder Taylor Wimpey: their first joint venture development was for €20m in 2014 at La Cala Resort, Miraval, where 60 apartments sold out in a year.
FBD Hotels and Resorts CEO David Kelly said the company was enjoying a sustained period of growth: “Our strategy is firmly focussed on developing our existing portfolio of four star hotels and resorts in Ireland and Spain, as reflected in recent investment decisions.” The sale of the Tower Hotel Waterford plus adjoining property to Wexford-based Neville Hotels is expected to conclude in early November, and FBD were advised in the deal by Waterford estate agent Des Purcell.
Neville Hotels already own the Royal Marine in Dun Laoghaire, and also recently acquired the Kilkenny River Court Hotel.
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