A Quality offer in Killarney as hotel seeks €4m
Published 18/05/2011 | 05:00
Hepton investment consortium are selling the Quality Hotel, Killarney, formerly known as the Killarney Ryan and are asking €4m.
The hotel comes with 168 en suite bedrooms although only 60 of these are currently in use and the others require refurbishment.
Its other facilities include four bars and restaurants, including Lannigans Restaurant which can cater for 220 people, and Fusion Bar and Restaurant with seating for 120 people. Its leisure centre accommodates an 18m swimming pool, a children's pool, jacuzzi, steam room, sauna, four treatment rooms, a 16-piece gym, multi purpose sports hall and a children's play room.
For three decades it built a reputation for catering for families and it has a crèche, outdoor children's play area, crazy golf and a five-a -side enclosed grass pitch. It occupies a high profile location on the Cork road entrance to the popular Killarney tourist spot and is within minutes walk of the town centre.
The consortium, who include well known hoteliers Frankie Whelehan and Sean Lyne, acquired the hotel in 2003 and developed 64 holiday suites, 63 holiday apartments and 24 holiday homes on the site which they sold on to investors. This accommodation could be leased by a new owner of the hotel.
It operates full time between April and September and at weekends during the off-season. Its primary market is family holiday breaks. The hotel also attracts strong coach business, independent leisure travellers and some corporate business. Joint agents CB Richard Ellis Hotels and Tom Spillane & Co. Ltd are handling the private treaty sale.
Naas haulier Michael Phibbs purchased The Hazel Hotel, Monasterevin with a €630,000 bid at a recent auction. The price was €180,000 above the guide although only half that which liquidator Anthony Fitzpatrick of Fitzpatrick O'Dwyer sought when he offered it for sale last year.
Auctioneer Matt Dunne reported that 140 people attended the auction and five bidders competed after bidding started at €400,000.