iNua hits double-digit growth
Published on Dec 10 2014 4:33 PM in Hotel
Still in its first year of operations, iNua Hospitality, led by financier Noel Creedon (pictured), has posted double-digit growth in its portfolio.
iNua's first acquisition in November last year was purchasing the Radisson Blu Hotel and Spa in Little Island, Cork, which had a price guide of just €8 million after being touted for in the region of €37 million pre-recession in 2005.
The move at the time secured the hotel's future and the jobs of its 150-strong staff.
Business & Leadership has reported that the hotel is reporting a revenue per available room increase of over 14 per cent for 2014.
In June, iNua snapped up Radisson Blu Hotel and Spa in Limerick for €3.5 million, with early reports show that the hotel performed in line with forecasts.
According to Creedon, iNua will next year turn to researching opportunities in the European market.