Liberty Global chairman John Malone has bought the Limerick Strand Hotel on the west coast of Ireland in a deal understood to be worth more than €20 mln.
Liberty Global chairman John Malone has bought the Limerick Strand Hotel on the west coast of Ireland in a deal understood to be worth more than €20 mln.
The acquisition brings Malone’s total investment in Irish property since 2012 to €150 mln, with a portfolio that also includes the Hilton, Trinity City and Westin hotels in Dublin city centre and the 400-acre Humewood Castle estate in County Wicklow.
The 4-star hotel beside the River Shannon was built in 2007 and has 184 bedrooms, conference facilities for 600 delegates and a leisure club with 900 members. The exact sale price was not disclosed.
Ireland’s hotel sector has recovered strongly in 2014, with 45 hotels sold in the first nine months of the year for nearly €280 mln in total. Sales have already surpassed the figures for 2013, when 33 hotels changed hands for a total of €160 mln.
John Malone owns a string of European and global cable services providers, including the Discovery Channel and UPC, and is also the largest landowner in the US with holdings of more than 850,000 hectares.
