iNua SNaps Up Radisson Blu Athlone for €9.5m
iNua Hospitality has completed the purchase of Radisson Blu Hotel & Spa in Athlone for €9.5million.
The company has stated that the latest acquisition "represents significant value to original development cost, is attractive based on its current trading profitability and offers huge synergy to current assets in iNua’s existing portfolio, especially the Radisson Blue hotel in Cork and Limerick.
Radisson Blu Hotel & Spa in Athlone opened in 2004 with 128 bedrooms & suites, a restaurant and bar, with a outdoor terrace overlooking the River Shannon. It boasts a fully equipped Leisure Club and conference & banqueting facilities extending to over 1,000 sqm with 7 separate conference suites and a modern ballroom with a capacity for up to 650 people.
iNua said the hotel "serves a large and well populated hinterland and is situated in a superb town centre that is thriving with tourists and that is also a corporate base for many companies".
Noel Creedon, CEO of iNua Hospitality, commented: "iNua Hospitality is delighted to seize this exceptional opportunity. The Radisson Hotel Athlone is a landmark and already profitable Irish Midlands hotel which occupies a prominent trading position right in the centre of Athlone town."