Irish investor iNua Hospitality has acquired the four-star Radisson Blu Hotel and Spa in the southern Irish city of Cork for more than the €8 mln asking price.
Irish investor iNua Hospitality has acquired the four-star Radisson Blu Hotel and Spa in the southern Irish city of Cork for more than the €8 mln asking price.
Savills has advised the vendor on the sale.
The 126-bedroom hotel is located within the eight acre (3.2 hectare) grounds of 19th century Ditchley House, 9 km east of Cork City in Little Island and began trading in June 2005.
The hotel, which is managed by international hotel company Rezidor and operates under the four-star Radisson Blu brand, has achieved particularly strong profit growth over the last three years, Savills said. There are 13 Rezidor hotels in Ireland, 10 of which trade under the Radisson Blu brand.
Tom Barrett, head of Savills Hotel & Leisure team in Ireland, said investors had shown very strong interest in the property, the sixth Cork hotel transacted by Savills in the last 12 months.
