Property advisory firm Savills who handled the acquisition has said that the sale does not impact the current lease agreement and "will continue to be leased and operated by Dalata Hotels".
The four-star Maldron hotel in Oranmore, co. Galway has been acquired by a private Irish investor for €13 million. According to Savills, the acquisition to an unknown Irish investor is not expected to impact pre-existing lease agreements with Dalata Hotels which leases and operates the Maldron hotel.
Opened in 1998, the hotel which hosts domestic and international tourists has 113 bedrooms, alongside a swimming pool, a leisure centre, a bar, a restaurant and extensive conference facilities.
Situated off the N18, the hotel is a 10-minute drive from Galway city, a handy location for the Ballybrit Racecourse, the city's public and private hospitals, alongside prominent business and industrial parks.
The sale of the hotel was handled by Tom Barrett, director of hotels and leisure at Savills Ireland, while Dessie Kilkenny of CBRE represented the buyer.
A former director of Savills Ireland, chartered surveyor Kilkenny had worked at the group for over seven years before joining Commercial property specialists CBRE as an Executive Director.
Commenting on the sale, Barrett said, "we are delighted to have managed the successful sale of the Maldron Hotel Oranmore Galway to a private investor. This transaction highlights the continued confidence in the Irish hospitality market, particularly for well-established and well-located assets such as the Maldron Hotel."
The property was first put up for sale back in September 2022, with a price tag of €13million. On announcing the initial sale of the hotel, RTE reported that the sale of the hotel was subject to the existing occupational lease with Caruso Limited, guaranteed by Dalata and with over 10 years remaining.