Rose of Tralee Finalise Fels Point Purchase
The Rose of Tralee company are set to purchase the Fels Point Hotel in Kerry, the home of the festival since 2007.
The hotel went on sale last year as part of a seven-hotel portfolio that was placed on the market by NAMA, with a guide price of just over €4 million.
Anthony O'Gara, chief executive for the Rose of Tralee company, confirmed in November that it had received backing of the bid, and it is now ready to finalise the deal after emerging favourite following a second round of bidding.
According to the Irish Independent, final negotiations with CBRE are underway and the deal is expected to be completed some time in the next week.
The company, pending the purchase, can finally move on its plans to build a permanent 'Rose Dome' to host the festival as well as other events on the empty site adjacent to the hotel.