Thursday 17 October 2019

Checking-in: Inua hotel group secures €4.8m in funds from backers

The Muckross Park Hotel in Killarney
The Muckross Park Hotel in Killarney
John Mulligan

John Mulligan

Hotel group Inua Hospitality has raised an additional €4.8m in funding via entities linked to Blackbee, the Irish investment firm.

It follows a near €40m equity raising completed for Inua Hospitality last year.

The privately-owned business is part of the Inua Partnership that also owns the Ditchley healthcare investment vehicle. It operates and owns hotels including the Muckross Park Hotel in Killarney (right).

Filings at the Companies Registration Office show that Inua Hospitality received the latest round of funding via three investment vehicles linked to Blackbee.

The €40m raised last year by Inua Hospitality was earmarked to help grow the group, which at the time had a portfolio of seven hotels, including the Radisson Blu hotels in Cork, Limerick, Athlone and Sligo.

Earlier this year, Inua Hospitality acquired the four-star Tullamore Court Hotel from John Flanagan Developments. The property has 103 bedrooms. The company that was behind the hotel secured a €57.4m debt forgiveness in 2018, according to accounts signed off before the hotel was sold.

Inua Hospitality's backers include Earlsfort Capital Partners and Blackbee Investments.

Earlsfort was established by former Anglo Irish Bank executives Fergal Feeney and Paul Brophy.

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