Dalata Acquires Clarion Hotel in Cork for €35M
Dalata, Ireland's largest hotel group, added to its ever-growing portfolio of hotels by purchasing the Clarion Hotel in Co. Cork for a record €35.1 million.
The group announced the acquisition this week and it is expected to complete the transaction this month. The hotel will continue to operate under the Choice Hotel Group name.
Clarion Hotel Cork is a 4 star hotel located on Lapp’s Quay in Cork City centre. The hotel contains 191 bedrooms, a bar and restaurant, a state of the art Leisure Centre, swimming pool, high end spa and extensive conference and meeting facilities.
PAt McCann, chief executive of Dalata said: “The Clarion is a superb quality Hotel finished to a very high specification and one of the finest, if not the finest Hotel in Cork City.
"The asset generates a high quality and secure rental income stream, underpinned by a highly profitable Hotel operation."
The purchase of the Clarion in Cork is the latest move in what has been a very active year for Dalata. The company recently announced it will raise €160 million to purchase and build new hotels.