Irish investment firm iNua buys Hibernian Hotel in Kilkenny

Privately owned Irish property investment firm iNua Hospitality has spent €7.25 million for the four-star Hibernian Hotel in Kilkenny, according to the Irish Examiner.

The deal brings iNua’s asset portfolio to a total of four properties, following its purchases of the Radisson Blu hotels in Cork and Limerick in 2014 and the acquisition of the Muckross Park Hotel in Killarney at the turn of the year.

The investment vehicle was established in 2012, with a remit to purchase and invest in four- or five-star properties, chiefly outside of the Greater Dublin area.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The company said earlier this year that it had an estimated €20 million to spend on hotels in 2015. This deal would still leave the bulk of it unspent and iNua is open to making more acquisitions, without the need for additional financing.


 

Suggested Articles

The furloughs will affect those at its domestic owned properties as well as its corporate staff.

The company is reducing its corporate workforce 40 percent to approximately 100 full-time-equivalent employees.

As of April 2, more than half of Accor’s branded hotels were closed worldwide, a portion the company said could grow to two-thirds in coming weeks.