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THREE TOP IRISH hotels are set to be sold off for a combined €30 million, €10 million less than one of them sold for in 2006.
The Malton in Killarney, the Metropole in Cork and the Kilkenny Ormonde Hotel are to be sold either together or separately as part of what agents Savills say is the first hotel portfolio sale for almost a decade.
The four star Malton Hotel is the most famous of the three having been trading for over 160 years and better known as the former Great Southern Hotel.
The hotel and 12 acre gardens were bought by a developer in 2006 for about €40 million and then bought again by a group of local businesspeople the following year for about the same figure.
The 172 bedroom hotel was the production base for the 1970 David Leen film Ryan’s Daughter with some filming taking place on the grounds. It is also known for hosting a number of dignitaries throughout the last century such as Princess Grace of Monaco and Jackie Kennedy.
The 112 room three star Metropole Hotel in Cork is also part of the portfolio with the well established business having been there since 1897. A bar, restaurant and gym also form part of the Leeside business.
The portfolio is completed by the Ormonde Hotel in Kilkenny City which includes the 118 bedroom four star hotel and 10 meeting rooms. The adjacent eight level Ormonde Street car park is also part of the sale.
Head of hotels at Savills Ireland Tom Barrett says that all three businesses are profitable and he expects significant competition for the portfolio.
“It is an excellent opportunity to acquire three highly regarded and profitable hotelsfor both existing hotel owners and operators and those seeking to enter the Irish hotel market for the first time,” he says.
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A TD’s for life (pension) and not just for Christmas.
Reduce the number of Dail seats.
http://www.wethecitizens.ie/talk/article/reducing_the_size_and_cost_of_government
Intresting link Sean. I don’t think these turkeys will vote for Christmas though.
How do I run for it?
Fianna Fail, the soldiers of our failed destiny, would be wise not to run a candidate for the by-election. Sure, why would they anyway: won’t they have made Fianna Fail history by not having “one” TD in the whole of Dublin. Maybe, one day, they could even do one better by not having one in the whole country!
Rumours that Pat Cox will be the Fine Gael candidate.
As someone who disagrees on most things with FG I still feel compelled to ask not to screw things up for yourselves in this by-election. Pat friggin Cox – Mister 7 pensions and still only 59. Mr. EU insider who has a lobby company advising Multi nationals on how to deal with the EU. A hopper from party to party, depending on which one is good for Pat Cox. Jesus if ye want to cement your party as a Golden Circle gombeen outfit go for it but it will be a chocking mistake all too familiar to FF activists. HQ knows best etc etc etc.
Say it ain’t so Dave, say it ain’t so?
More money wasted to find a waster to pension off! Great
I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical form.
C Coolidge
Kieran Dennison will take this seat for Fine Gael. He was only just edged out by Brian Linehan in February. Fine Gael are at 44% in the polls, up from 36% in February. The only other Fine Gael TD in that constituency is Leo Varadkar, so it would be good for them to have a back bencher as well as a Minister.
Labour are down to 12% in the polls, I don’t see them getting this seat. Fianna FAIL are at 15% but nobody is gonna vote for them. Anyone else is so low in the rankings it wouldn’t matter. To take this potential victory away from Fine Gael would need a real game changer, real star quality.
Comment of the year there Daniel, Fianna fail at 15% but nobody going to vote for them. Pmsl. I bet maths wasn’t your strong subject at school (:
Last FF seat in Dublin now gone, amazing turnaround and rightly so.
Clearly someone will vote for them, what I am saying is they won’t take the seat. Try not to take everything you read literally.
Yes obviously they will get some votes, but they won’t take the seat, that’s what I am saying. Try not to take everything you read literally.
have your say