Denis O'Brien Buys Ballynahinch Castle Hotel
Published on Jan 19 2015 10:00 AM in Hotel
Denis O'Brien has finalised his purchase of Ballynahinch Castle Hotel, in Co. Galway, for just over €6.5 million from BCI International Inc.
According to the Irish Times, BCI accounts show that over €5.58 million was paid for the hotel by the end of January 2014 and a further €500,000 is expected to be paid by this July.
The Castle is a four-star luxury hotel which is located beside a river and on over 450 acres of woodland in Connemara. It was built in the 18th century and is overlooked by the Twelve Bens mountain range.
It comprises 40 rooms, nearly half of which are classic rooms, the remainder being superior rooms, luxury rooms and suites. The rooms boast views of the mountains and river. The property also offers amenities such as a restaurant, a pub and several outdoor activities.
The business is trading well: at the time of sale it recorded a profit of €3.19 million and a turnover of €3.5 million. Outstanding loans were also paid off.
O'Brien is in the process of renovating the Castle.