Monday 29 May 2017

iNua Hospitality acquires four-star Hillgrove Hotel

The four-star Hillgrove Hotel in Monaghan has seen capital investment of approximately €10m
The four-star Hillgrove Hotel in Monaghan has seen capital investment of approximately €10m
Ronald Quinlan

Ronald Quinlan

The award-winning four-star Hillgrove Hotel in Monaghan has been acquired by Irish hotel group iNua Hospitality for an undisclosed sum from its long-standing proprietors, Colm and Audri Herron.

iNua's purchase of the hotel represents the group's sixth acquisition in the last three years. Apart from the Hillgrove, the company counts the five-star Muckross Park Hotel & Spa in Killarney, the Kilkenny Hibernian Hotel, the Radisson Blu Hotels at Little Island in Cork, Limerick, and Athlone within its portfolio.

The Hillgrove Hotel was acquired by its previous owners in April 2004. Since then, the venue has benefited from substantial capital investment which, to date, runs to approximately €10m. The main capital investments in that time were the addition of 43 en-suite bedrooms and the development of the Living Well Leisure Centre & Spa facility, which has nearly 1,000 local members.

The hotel is being sold as a going concern, with all its existing management and employees continuing to be employed with the business. iNua Hospitality intends to honour all bookings for weddings and functions according to the terms agreed by the hotel's previous owners.

Dermot Curtin of CBRE Hotels, who advised the vendors on the off-market sale, said: "In iNua, we have found the perfect purchaser for this very successful hotel. My clients' instructions from the outset were that any potential new owner must share the same ownership philosophy as they have had all of these years; that is that customer service and the wellbeing of their employees must be at the very top of the agenda.

"iNua have already established an excellent reputation for delivering very high standards of service and a high level of care for their employees and once those criteria were confirmed, the sale could be agreed."

Sunday Independent

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