Galway Radisson Blu Hotel sold for €50m
A partnership of US billionaire John Malone's MHL Hotel Collection and developer Jerry O'Reilly has reached an agreement to acquire the Radisson Blu Hotel & Spa in Galway in a deal believed to be worth in the region of €50m.
The Radisson Blu Hotel & Spa is one of Ireland's largest hotels and comprises 261 rooms and suites, extensive leisure and conference facilities, as well as Ireland's first thermal spa.
Under the terms of the current management agreement, existing operator Rezidor will continue to manage the hotel which was built originally by developer Bernard McNamara.
Located on the Lough Atalia Road on the Wild Atlantic Way, the Radisson has long been recognised as a key part of the west of Ireland's tourism infrastructure.
In the years prior to the crash, the hotel served as the venue for the annual invitation-only VIP gatherings hosted by Mr McNamara during the week of the Galway Races.
The Irish Independent understands the MHL Hotel Collection has acquired Mr McNamara's share in the hotel from the official assignee who presided over his UK bankruptcy.
The Clare-born developer formally exited the bankruptcy process in March 2014.
"We are delighted that the Galway Radisson Blu is joining our collection," said Paul Higgins, a partner with the MHL Hotel Collection.
"This is one of the finest hotels in the West of Ireland, and we look forward to working with customers and staff to further enhance its market-leading position."
Jerry O'Reilly, who has been a joint owner of the hotel since 2001, added: "I am delighted to partner with the MHL Hotel collection.
"Their commitment to quality guest experiences convinced me that they are the right partners to drive the business to even greater success."
The MHL Hotel Collection includes The Westin, The Intercontinental, The Trinity City, The Spencer, The Morgan, The Beacon, The Hilton Dublin City and the Limerick Strand.
In Galway, the Harbour Hotel and Glenlo Abbey Hotel & Golf Resort operate as sister hotels.