A partnership involving the operator of the Westin and the Intercontinental in Dublin, and one of the original owners of the four-star Radisson Blu in Galway, have acquired the latter 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 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.
Joint owner
Mr O’Reilly, a well-known hotelier and developer, 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.
"MHL Hotel Collection is delighted that the Galway Radisson Blu is joining our collection. This is one of the finest hotels in the West of Ireland, and we look forward to working with customers and staff to further enhance its market leading position," said Paul Higgins, partner.
