Pillo Hotel in Ashbourne, Ireland, goes on the market for €8M

In Ashbourne, Ireland, The Pillo Hotel--owned by a business syndicate headed by Paddy Kelly and John McCabe--is up for grabs with an asking price of €8 million through Savills Hotels & Leisure.

According to the Irish Times, the 148-room four-star hotel is being sold on the instructions of Kieran Wallace of KPMG, who was appointed receiver by the former Anglo Irish Bank. 

The hotel first opened for business in 2007 under the Marriot brand, but the new owners will be able to operate under a different brand. Aaron Spring of Savills told the Irish Times that the hotel is "well placed" to benefit from improved trading conditions.