The Irish Independent has revealed that ownership of Co. Kerry's five-star Sheen Falls Lodge hotel is set to be passed to a group of Thai investors in the coming weeks following an agreement with current owners Palladian Hotels to sell the venue for a figure between €16 million and €17 million.
While the sale has not yet concluded, it is expected to deliver a substantial profit to Palladian Hotels. The company acquired Sheen Falls Lodge for €5 million in 2013 and subsequently spent €5 million on refurbishing the venue.
Portobello Harbour Site
Meanwhile, The Irish Independent has also learned that CBRE's hotel division and Eastdil Secured have been retained to advise on the sale of Tifco's hotel site at Portobello Harbour in Dublin. It is understood that the agents are guiding a price of approximately €15 million for the site.
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.