Westin, InterContinental and one of the original owners of Galway's Radisson Blu Hotel & Spa have partnered to acquire the Irish hotel for an undisclosed amount. The deal involving the MHL Hotel Collection and hotel owner and developer Jerry O'Reilly is estimated to be worth approximately €50 million, marking this hotel sale the largest outside of Dublin year-to-date.
O'Reilly has been a co-owner of Galway's Radisson Blu on Lough Atalia Road and the Wild Atlantic Way since its 2001 opening. The hotel, which was developed by Bernard McNamara, has 261 guestrooms and suites, making it one of the largest hotels in Ireland.
The hotel was originally part of the National Asset Management Agency's €600-million loan portfolio sale, which was placed on the market this year. As per the current management agreement, Rezidor Hotel Group will continue operating the Radisson Blu.
MHL Hotel Collection, which involves John Malone, chairman at Liberty Media and Liberty Global, Paul Higgins and John Lally, owns a portfolio of hotels in Dublin, including The Westin, The InterContinental, The Trinity City, The Spencer, The Morgan, The Beacon, The Hilton Dublin City and the Limerick. MHL also owns the Harbour Hotel and Glenlo Abbey Hotel & Golf Resort in Galway, which operate as sister hotels. Last November, MHL Hotel Collection acquired The Spencer, The Morgan and The Beacon from the Fitzpatrick Lifestyle Hotel Group. The acquisition increased its portfolio to more than 1,150 four- and five-star guestrooms.
“Our focus as a group remains on acquiring, re-investing and managing our collection of high quality hotels, both branded and non-branded, and to apply our expertise to drive continuing growth over the medium to long term, "Paul Higgins, partner at MHL Hotel Collection, told Business World. "To date we have added or are in the process of adding almost 140 new bedrooms and we have sought planning permission for an additional 100 rooms. This planned 240-bedroom, €30 million expansion should add almost 20 percent to the hotel capacity acquired over recent years as well as enhancing our already well invested and strongly performing hotels."