THE Fels Point Hotel in Tralee has officially been placed on the market with an asking price of €4 million.
Bidders are now being sought for the 165 bedroom hotel which is best known as the home of the Rose of Tralee Festival.
The hotel is being sold as part of a portfolio of seven profitably trading Irish hotels being sold as a bundle, or individually, by Nama in the so-called Crystal Portfolio, valued all-in at €35m and totalling over 830 beds.
Estate agents CBRE are handling the sale and they are now inviting bids from interested parties.
Last November the Rose of Tralee company announced it is planning to make a bid to buy the hotel.
Rose of Tralee Executive Chairman Anthony O'Gara says financial backing has been secured and the festival is in a position to make a cash purchase of the hotel which has been home to the festival since 2007.
With the hotel now officially on the market Mr O'Gara said that the festival company will now move to advance their bid.
The purchase of the hotel would allow the Rose of Tralee company to move ahead with its long standing plans to build a permanent 'Rose Dome' to house the pageant.
Should the purchase go ahead the Rose of Tralee company say that the new permanent dome could be built in time for the 2017 festival.