Ireland's largest hotel operator, Dalata Hotel Group, has agreed to sell the Clayton Whites Hotel Wexford to family-run Neville Hotels for €21 mln.
The 160-room Clayton Whites Hotel is one of Ireland's oldest hotels, dating back to the 18th century.
This latest development comes just two months after Dalata Hotel Group announced the sale of another Wexford asset – the 108-room Maldron Hotel Wexford to another local operator, the Neville Park Hotel Group, for an undisclosed sum.
The proceeds from the sale of both hotels will largely be returned to shareholders via the share buyback program announced in October. Dalata remains committed to the Irish market and its leading position as a hotel operator with its Clayton and Maldron brands.
In early November, Dalata completed the purchase of the Radisson Blu at Dublin Airport for €83 mln.
Dermot Crowley, CEO of Dalata Hotel Group, commented: ‘The hotel has a strong management team in place and a proven track record of strong performance, providing me with confidence that it will continue to excel as part of Neville Hotels. Our focus now is to ensure a smooth and positive transition, providing support to our colleagues throughout this period of change.’
Therese Kelly, director of Neville Hotels, added: ‘We are delighted to add Whites Hotel in Wexford to our portfolio of hotels. This acquisition marks our sixth hotel for the group and we feel this hotel will complement our new property in Curracloe, The Ravenport Resort, very well. We are looking forward to investing in the property in the future to ensure its status as one of Wexford Town’s most popular hotels remains.’
The acquisition of Clayton Whites Hotel expands Neville Hotels' growing portfolio, which includes the Royal Marine Hotel, Druids Glen Hotel and Golf Resort, River Court Hotel, Tower Hotel, and the recently opened Ravenport Resort.
The sale is expected to finalize in January, with Savills acting as advisor to Dalata.
