Ashford Castle Hotel Sells For €20M
Published on May 21 2013 2:18 PM in Hotel
Ashford Castle hotel resort has been sold for €20 million to Red Carnation Hotels, who own 14 boutique hotels and plan to carry out a major refurbishment of the troubled five-star hotel. The hotel, which was placed into receivership 18 months ago by its owner, Galway businessman Gerry Barrett. Barrett purchased the hotel five years ago from a group of Irish-American investors for €50 million.
The Cong, Co. Mayo hotel was voted the best resort in Ireland and the third best in Europe by Condé Nast Traveller magazine. The 365-acre property has been trading as a hotel since 1939.
Edward Holdings, Barrett's company, continues to run the G Hotel and the Meyrick Hotel in Galway and the D Hotel in Drogheda.
Joint receiver and manager Luke Charleton of Ernst & Young said that the deal secures the jobs of 160 staff who work at the hotel.