iNua Hospitality Seeking Further Acquisitions
Irish hotel group iNua Hospitality is said to be seeking further acquisitions in the wake of its purchase of Sligo's Radisson Blu hotel for a figure between 15 and €16 million.
With the acquisition of the Radisson Blu Sligo, iNua currently operates seven hotels in Ireland, including Killarney's Muckross Park Hotel and the Radisson Blu hotels in Limerick, Cork and Athlone. According to industry sources, as confirmed by The Irish Independent, the group now intends to purchase an additional hotel in the midlands later this year on the back of growing tourism numbers from the US and mainland Europe.
It was recently reported that iNua accumulated record earnings of €7.1 million in 2017 and aims to increase its earnings before interest, tax, depreciation and amortisation (ebitda) by 34% over the next half decade, bringing its ebitda to €9.5 million in 2022.