see all jobs
Seven Great Southern Hotels sold for 265m euro
The Dublin Airport Authority (DAA) has sold seven of the eight Great Southern Hotels it put on the market in February this year for 265m euro (£179m) in three separate transactions.
Edward Holdings acquired the Killarney, Eyre Square and Corrib properties, while a consortium made up of Punch Taverns co-founder Alan McIntosh alongside local investors bought the Dublin, Cork and Shannon airport hotels.
The Parknasilla hotel was acquired by Spentor, which is owned by Bernard McNamara. The company also sold its 25 per cent stake in the City of Derry hotel to existing local shareholders.
According to DAA, “no acceptable tender was found for the Rosslare hotel as an individual lot, but the company is confident that it will achieve a successful sale in this property in the future”.
As part of the sale process, all employees of Great Southern Hotels have been offered the opportunity to transfer to the new owners or take advantage of a voluntary severance package.
The sale was advised by Dublin-based CB Richard Ellis. Details: www.greatsouthernhotels.com
Photograph: The Dublin airport hotel was part of DAA’s 265m euro sale
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers