Galway Radisson Blu sold for €50m
A partnership involving the operator of the Westin and Intercontinental in Dublin, and one of the original owners of the four-star Radisson Blu in Galway, have acquired the hotel for an undisclosed sum.
While no financial details have been disclosed, the deal involving the MHL Hotel Collection and hotelier and developer Jerry O’Reilly, is estimated to be worth in or around €50 million.
This would make it the largest hotel deal of the year-to-date outside of Dublin. The buyer of the Carton House golf resort, near Maynooth in Co Kildare, has yet to be revealed although it is on the market for a reputed €60 million.
MHL Hotel Collection owns a number of hotels in the capital including The Westin, The Intercontinental, The Trinity City, The Spencer, The Morgan, The Beacon, The Hilton Dublin City and the Limerick Strand. In Galway, the Harbour Hotel and Glenlo Abbey Hotel & Golf Resort operate as sister hotels. Mr O’Reilly has been a joint owner of the Radisson Blu since it first opened in 2001.
One of Ireland’s largest hotels, the Radisson Blu, which was built by developer Bernard McNamara, has 261 rooms and suites, a thermal spa and extensive leisure and conference facilities.
The National Asset Management Agency (Nama) placed a large €600 million portfolio of loans on the market, which included the Radisson Blu, earlier this year.
Under the terms of the current management agreement, the existing operator Rezidor will continue to manage the hotel.