Ormonde Hotel on the market for €11.5 million

Mary Cody

Reporter:

Mary Cody

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The Ormonde Hotel is part of Ireland’s first hotel portfolio sale for almost a decade and is the most expensive in the trio with a guide price of €11.5 million.

The Ormonde Hotel is part of Ireland’s first hotel portfolio sale for almost a decade and is the most expensive in the trio with a guide price of €11.5 million.

The portfolio presents a mix of prominent hotels in key commercial and leisure locations. This portfolio sale also comprises of the Malton in Killarney and the Metropole Hotel in Cork city.

After attracting significant interest from domestic and international buyers, the owners of these hotels have decided to market them for sale by private treaty through Savills Hotels & Leisure. The combined guide price for this portfolio is €30m and the hotels are available as a portfolio or individual lots.

Kilkenny Ormonde Hotel is a four star hotel with 118 bedrooms in the heart of the city. Facilities include O’Reilly’s Bar and Restaurant, Savour Restaurant, excellent conference and banqueting facilities with ten meeting rooms over two floors and a leisure centre with a 21 metre swimming pool, gymnasium and spa. The sale also includes the Ormonde Street Car Park with 712 car parking spaces over eight levels. The hotel is excellently located within Kilkenny city centre, which is a leading leisure destination. The Malton, Killarney (former Great Southern Hotel) is an iconic four star hotel with 172 bedrooms set in twelve acres of beautiful gardens. The hotel has been trading for over 160 years and is an established and highly regarded institution. Facilities include a magnificent restaurant, bar, lounge and wine cellar and some of the best conference and banqueting facilities in Ireland which attracts a very strong wedding business. The leisure centre has a 15 metre swimming pool, gymnasium and spa.

The Metropole in Cork is a three star hotel with 112 bedrooms located within Cork city centre overlooking the River Lee. The hotel dates from 1897 and is a very well established and recognised brand. Facilities include the Met Bar, The Riverview Restaurant and Waterside Café. The hotel has excellent conference and banqueting facilities. The Leeside Leisure Centre has strong membership and includes a 20 metre swimming pool, gymnasium and aerobics studio.

These three hotels are being sold as going concerns and the trade is not impacted.

“This is the first portfolio of Irish hotels to be offered for sale in almost a decade. It is an excellent opportunity to acquire three highly regarded and profitable hotels and is a unique opportunity for both existing hotel owners & operators and those seeking to enter the Irish hotel market for the first time. All hotels are trading very well and are generating significant profits. We expect considerable interest in this portfolio,” Tom Barrett, Head of Hotels & Leisure Savills said.