A total of 7 hotel properties, totalling more than €26 million between them, sold in Ireland during the first three months of 2017.
This is according to Commercial Property Consultants, CBRE Ireland who have today released statistics on the volume and value of hotel sales in the Irish market in the first three months of 2017.
Hotels that are currently being marketed which will boost transactional activity in the second half of 2017 include the Mount Wolesley Hotel in Carlow, which is guiding €14.25 million and Athlone Springs Hotel in Athlone, Co. Westmeath, which is guiding €3.5 million.
Irish hotels that sold during the first quarter 2017 include the 104 bedroom D Hotel in Drogheda, Co. Louth and the 30 bedroom Clifton Court Hotel in Dublin city centre.
Associate Director at CBRE Hotels Ireland, Lisa Kogh says, "Following an exceptionally busy year in 2016, during which 66 hotel properties (totalling €805 million) changed hands in the Irish market, transactional activity has slowed over recent months as had been anticipated."
She added, "7 trading hotel sales totalling more than €26 million were completed in the Irish market during Q1 2017 compared to 14 sales totalling more than €47 million in the same period last year. The market is very busy behind the scenes as hotel assets are being prepared for sale and other sales processes are being conducted off-market."
Source: www.businessworld.ie
