Over the summer, the The Cork City Clarion Hotel, just outside Dublin, was put on the market by NAMA and was expected to attract as much as €30 million. Today, the Dalata Hotel Group announced that it had purchased the property for a price that the Irish Times is calling "record-breaking": €35.1 million.
Joint agents Savills and JLL, making the announcement on Tuesday morning, said it was an investment deal only with the current tenants unaffected. The business will continue to be operated by Choice Hotels Ireland under the Clarion brand.
With 191 guestrooms, the hotel is reportedly the largest by room count in Cork. The property had two selling agents, Savills and JLL, who noted that the has 25 years to run on a lease to Merzolt Ltd.