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JP McManus in pole position for Adare Manor

Published on Nov 18 2014 10:41 AM in Hotel

JP McManus in pole position for Adare Manor

After millionaire businessman JP McManus emerged as the highest bidder for Adare Manor Hotel, it's been reported that the former Gresham CEO was just pipped to the post.

Limerick-born JP McManus has offered €30 million for the five-star resort and golf club after final bids were submitted late last week, according to The Irish Times. 

On Sunday, a column in The Sunday Times reported that the underbidder was Paddy Coyle, former chief executive of the Gresham hotel group, with a bid backed by Bayside Capital, a US investment group with billion dollar in assets.

Coyle's bid came close to matching McManus’s bid for Adare, with most other bidders trailing behind with offers nearer to the €25m asking price, the article's sources reveal.

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