iNua Snaps Up Bill Cullen's Muckross
Published on Jan 15 2015 10:13 AM in Hotel
Irish hotel investment company iNua Hospitality has acquired Muckross Park Hotel and Spa in Killarney for a price of €6.25 million.
The high price tag has not deterred the Cork-based hotel firm, which has been been favourite to scoop Muckross - the former business venture of Bill Cullen and Jackie Lavin - since late last year.
iNua bought two Radisson Blu hotels lastt year, one at Little Island in Cork for €8 million and another in Limerick for €3.5 million.
Muckross dates back to 1795 and is currently a five star rated hotel comprising of 68 bedrooms and 10 self-catering suites.
The sale was handled by estate agents DTZ Sherry Fitzgerald at the request of receiver Declan Taite of Duff & Phelps, who was appointed by ACC bank.