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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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If I were the iranian delegation I wouldn’t give an inch until the talks become all inclusive. How is it that Israel, the greatest threat to regional and world peace, has a carte blanche to develop and maintain a nuclear arsenal and Iran can’t even develop a civilian nuclear programme.
because Israel are big allies with the US
i think he knows that aaron,it was more rhetorical !!
Nothing Controversial about their ‘Nuclear’ ambitions, Pakistan have nukes (I’d be far more concerned here but they are (were) a former ally of Uncle Sam and no threat to Israel) India have Nuclear arms, Israel have nuclear arms so why not Iran?
I don’t see how increasing the amount of countries with nuclear arms can be a good thing whatever their motive.
If they want nuclear power all well and good but do we really want a world where this kind of thing is not carefully controlled and policed?
Over 2,000 nuclear bombs have been detonated to date by countries such such as the US, France, UK etc. Why is it that they are allowed to keep their nuclear weapons?They have shown themselves to be irresponsible. Iran has repeatedly said it will not go after nuclear weapons and it has not detonated a single one.
There are persistent reports of late of Pakistan helping Saudi Arabia to acquire nuclear weapons. There is no mention of this in the corporate media. Let’s also bear in mind that the US actively helped Pakistan acquire nuclear weapons and turned a blind eye to Pakistan to helping North Korea with its nuclear weapons programme. So there are precedents.
There have been many proposals to date which the US gave repeatedly rejected to have all of the Middle East free of weapons of mass destruction but the US has repeatedly stood by Israel.
Let’s have a little objectivity in the reporting.
Well said Horgay. As for increasing the number of nuclear weapons, no one even suggested that. Iran is playing brinkmanship, hoping to get a level playing field, one based on a nuclear free middle esst. Good for them, at least someone in the region is being pragmatic.
As long as the AIPAC is still a strong voice in congress agreement will be very hard to reach.
They know no nuclear nation has ever been invaded by another. Yet the don’t speak about Israeli bombs and the disregard to international treaties and law it consistently shows
It means nothing to me!
Obviously not fans of vltravox.
have your say