Ireland's Lyrath Estate Hotel may attract bids of €20M

Lyrath Estate Hotel

In Ireland's County Killkenny, the upscale Lyrath Estate Hotel is on the market and is expected to attract bids of around €20 million.

The 139-room hotel was developed by Xavier McAuliffe. According to the Irish Independent, the hotel has struggled with overhanging debt, but still managed to turn a profit. Four years ago, Kieran Wallace of KPMG was appointed receiver over the property by Bank of Scotland (Ireland).

The hotel is being sold as a going concern by private treaty. CBRE is managing the sale, and CBRE Ireland's director of hotels Dermot Curtin noted that the property already has " a substantial number of weddings and events already on the books for the coming years."

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.

Source: Irish Independent

 

Read more on

Suggested Articles

The Peppers Airlie Beach resort in north Queensland is up for sale via an International expressions of interest campaign.

Ahead of the Mediterranean Resort & Hotel Real Estate Forum, Atrium Hotels' Athinagoras Konstantinidis discusses hotel opportunities and challenges.

Ahead of the Mediterranean Resort & Hotel Real Estate Forum, Joachim Schmitt discusses the hospitality investment climate.