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.
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.