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Hotel Sales could top €1bn.

The combined value of hotel sales is set to top €500m this year, and could exceed €1bn depending on certain sales being completed before year-end.
In an update on the sector, Savills Ireland has said that the second half of 2014 has seen an acceleration in hotel transaction activity and that the Irish tourism sector is set to further benefit from the growing British and US economies.
 
Savills foresees the continued uplift in the hotel market being driven by portfolio sales by the likes of Nama.
 
 
 
 
 

Jurys appoints Engineeer

Sean McCormick has been appointed Head of Engineering by  Jurys Inn. In his role, Sean will be responsible for providing direction on all engineering matters including mainten

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ance provisions and energy consumption, as well as assisting in the project management of a number of extensions and refurbishments across the group which consists of 31 city centre hotels.
 
With over 25 years experience in engineering and project management, Sean was previously Building Services Manager at McAleer & Rushe Ltd in Cookstown. During this time, he worked on a number of Jurys Inn projects including the €14 million extension of the group’s recently rebranded Islington property, and the maintenance of numerous hotels including Belfast, Bradford and Liverpool.
 
Sean has an Honours BEng Degree in Building Services Engineering and is a member of the Chartered Institution of Building Services Engineers (CIBSE).
 

Dalata confirms €32m hotel deal

As we reported earlier this week Dalata Hotel Group has confirmed that it is paying close to €32m in cash for two four-star hotels in Galway and Wexford.

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The group has agreed to buy the Clayton Hotel in Galway and White’s Hotel in Wexford town for a combined €31.7m.
Both hotels, which were put on the market by property consultants, CBRE, were bought from Ulster Bank’s ‘Project Nadal’ property portfolio.
 Dalata has operated both properties, under management contract since 2009.
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