Commercial real estate services firm CBRE has reported that four hotel sales totalling over €36 million took place in Ireland during the first three months of 2019.
The hotel sales that were completed in the country during the year's first quarter were those of the Heritage Hotel of Killenard, Co. Laois, The Tullamore Court of Tullamore, Co. Offaly, and The Castle Oaks of Limerick, as well as the investment sale of the Dublin Citi Hotel of Dublin's Dame Street.
Anticipating A Second Quarter Pick-Up
The Irish Independent quotes Debbie Hugger of CBRE's hotel team as saying, "The opening months of the year are generally slow in the hotel property market… With negotiations continuing on a number of hotel transactions at present and several new opportunities due to be formally offered for sale over the coming months, we expect a pick-up in transactional activity in this sector from the second quarter of the year onwards."
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© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.