Cork City Clarion for sale with €30M pricetag

The Cork City Clarion Hotel, just outside Dublin, Ireland, is for sale and could bring in €30 million. With 191 guestrooms, the hotel is reportedly the largest by room count in Cork. The hotel is being sold off by NAMA and is reportedly drawing interest from both overseas and local Irish investors.

The hotel has two selling agents, Savills and JLL, who call the Clarion “the leading hotel in Cork,” noting it has 25 years to run on a lease to Merzolt Ltd, The hotel is operated by Choice Hotels International.

Dan O’Connor of JLL told The Irish Times that the hotel is “the largest and arguably the best hotel in Cork city. It offers a strong existing leased income stream with bright prospects for future rental growth buoyed by a robust Cork hotel trading market and positive developments within Cork city, including the announcement that Cork’s first convention centre will be constructed nearby.”

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New city developments include the redevelopment of the Capitol cinema site, as well as an expected new convention/exhibition center.

Cork’s corporate and multinational presence includes Amazon, Apple, EMC2, GlaxoSmithKline, Intel, Pepsi and Siemens.

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The rebranded property, formerly an Amari hotel, operates under a franchise agreement and is managed by Le Mirage Real Estate.

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