Radisson Blu Sold For €3.5m
Published on Jun 17 2014 3:18 PM in Hotel
Irish hotel investment company iNua Hospitality has bought the Radisson Blu Hotel and Spa on Limerick’s Ennis Road for €3.5million.
Headed up by financier Noel Creedon, iNua Hospitality’s acquisition of the Limerick hotel is an addition to the company’s expanding portfolio of Radisson Blu Hotels given their recent purchase of a sister hotel in Little Island, Cork. “We are very pleased with this second acquisition which has significant synergies with our Little Island property. We are excited about the development potential for this asset and we look forward to working with the staff and team in Limerick,” said Creedon.
Commenting on this latest acquisition, iNua Hospitality CFO John O’Brien said, “We have now established iNua Hospitality as a key player in the industry. The purchase of both Radisson Blu Hotels in Cork and Limerick has allowed us to platform our acquisitions and brought us closer to achieving our long-term vision for the hotels which is to secure jobs, increase visitor numbers and grow the hotels’ profitability.”
The four-star 154-bedroom hotel is on 20 acres of grounds close to the home of Munster Rugby, Thomond Park and some of the country’s most scenic golf clubs including Doonbeg and Lahinch. The hotel, which was built in 1970 and entirely refurbished in 2002, caters for business travellers with its high-end conferencing facilities, as well as a focus on leisure with its pool, outdoor Canadian hot tub, saunas and relaxation rooms.
Pat Cussen, district director at Radisson Blu Hotels Ireland, said: “We are delighted to have been given the opportunity to partner with iNua Hospitality to manage the Radisson Blu Hotel, Limerick. The purchase by iNua is an extremely positive step forward for the hotel and the Radisson Blu brand in Ireland, and it will help to secure the future for the business.”