Ballykisteen Hotel & Resort to Undergo 'Substantial Investment' By New Owners
Tipperary's four-star Ballykisteen Hotel and Golf Resort has been acquired by Great National Hotels and Resort and is set to undergo a"substantial investment programme, according to the group's co-founder and chief executive David Byrne.
The 40-bedroom hotel has conference and banqueting facilities, a leisure centre, an 18-hole golf course spread over 114 acres and is close to the Galtee Mountains. The hotel was put on the market by CBRE with a guide price of €2 million but was sold for well in excess of that, reports the Irish Times.
Great National Hotels and Resorts, which has over 50 three- and four-star hotels throughout Ireland and the UK, has acquired eight Irish hotels over the past two years, adding to its portfolio of hotels in locations such as Cork, Galway and Clare. The group has also completed a first round of funding for its Great Nite Inn, a new boutique budget hotel brand.
The Ballykisteen Hotel and Golf Resort is described by CBRE as being an increasingly popular venue for weddings, is situated 30 minutes' drive from Limerick city, an hour's drive from Cork City and is expected to greatly benefit when its golf course is used for a televised European professional tour in May 2017.