Haulier snaps up country music hotel for €630,000
Published 12/05/2011 | 05:00
A popular country music venue has been sold at auction for €630,000.
Naas haulier Michael Gibbs paid €180,000 more than was guided before the auction for the Hazel Hotel, Monasterevin, Co Kildare. But the sum he paid was only half the price sought when it was brought to the market last year.
Mr Gibbs plans to re-open the hotel, which was closed last autumn by previous proprietors Margaret and John Kelly.
With a ballroom capacity for 1,000 people, it was synonymous with big band dancing for 25 years, and Mr Gibbs, himself a country music fan, plans to revive its reputation. Yesterday as many as 140 people, including an under bidder from Limerick, attended the auction in the hotel itself.
At the height of the economic boom it was generating turnover of €3.7m a year from its drink, food, functions and bedroom business.