Hotel group Dalata has announced the sale of the Maldron Hotel in Wexford to the Neville Park Hotel Group for an undisclosed sum.
The Neville group, which is run by Wexford businessman Colm Neville, owns the Riverside Park Hotel and Crown Quarter in Wexford and the Midlands Park Hotel in Portlaoise.
“The sale of the hotel, which was assisted by Savills, is an opportunity to capitalise on an attractive valuation and recycle capital through Dalata’s business to drive further growth,” Dalata said.
“The transaction is the sale of a well performing hotel, with a strong team in place who will transfer to the Neville Park Hotel Group,” it said.
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The State’s largest hotel group did not disclose the value of the deal but 108-bedroom hotel was on the market back in 2015 with a guide price of €3.5 million.
Dalata also noted it was in exclusive discussions with a preferred bidder regarding the sale of the Clayton Hotel Whites Wexford. “Further details will be announced in due course. There is no certainty that a transaction will be completed,” it said.
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Dalata chief executive Dermot Crowley said: “This is an excellent, well-run hotel, with a strong team in place, and I have no doubt it will continue to perform strongly as part of The Neville Park Hotel Group.”
“Our immediate priority, is to continue engaging with our employees as we assist them with the transition. Ireland remains a key strategic location for Dalata, and our focus is continuing to deliver industry leading hospitality for our guests across all of our locations,” he said.
Mr Neville said: “The hotel’s strategic location and the loyalty of its team, some of whom have been with the hotel for over 15 years, make it a fantastic addition.”
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