Shannon Court Hotel put on the market with a €1.1m guide price
Published 24/05/2015 | 02:30
Christy + Co have been retained as agents for the Shannon Court Hotel.
The firm is acting on behalf of Frontline Asset Management Limited to sell the hotel with a guide price of €1.1m.
The hotel is said to occupy a prime location close to Shannon Airport.
The hotel has 54 guest bedrooms, a restaurant, pub, gym and two small retail units. The property was acquired by the present owners in 1994 and traded as The Old Lodge bar and restaurant until 1998 when the building was extended to incorporate the hotel as it stands today.
The hotel has benefited greatly from the activity at Shannon Airport which has experienced significant growth since separation from the Dublin Airport Authority in 2013. Overall passenger numbers in 2014 increased by 17pc year on year to 1.64 million.
Shannon Airport currently flies to 35 destinations in 11 countries and is best known as a major Gateway to the US and was the first airport outside of the Americas to gain permission for Customs and Border pre-clearance to the US.
The hotel is also near to the Shannon Free Zone and Westpark business parks which between them employ approximately 10,000 people. Local tourist attractions include Bunratty Castle, King John's Castle, St Mary's Cathedral, The Cliffs of Moher and the Burren.
Christie + Co's head of brokerage for Ireland Dave Murray commented: "The Shannon Court Hotel represents a great opportunity for an owner operator to take control of a strategically located hotel with potential for increased demand from both Shannon Airport and the nearby business parks in an improving trading environment."
"The hotel once enjoyed a substantial trade with demand from both locals and hotel guests alike however this deteriorated at the onset of the financial crises in Ireland which hit the Shannon region particularly hard.
"Despite these difficult circumstances the hotel has been consistently profit generating since 2012. There is significant potential to drive its performance through greater focus on corporate and airport driven business," Mr Murray added.
Sunday Indo Business