Shannon Court Hotel has been sold in excess of the €1.1m guide price to experienced hotel operator Clare Road Hotel Services Limited.
The deal will mark the company’s first fully owned hotel as it reopens as Shannon Springs Hotel.
The hotel, located in close proximity to Shannon Airport, consists of 54 bedrooms, restaurant, pub, mini-gym, two small retail units and on-site parking.
New owners John Gavin and Dermot Kelly of Clare Road Hotel Services Ltd are both experienced operators with over 25 years of industry experience. They have already completed a refurbishment of the hotel’s kitchen and now plan on opening the restaurant with a new concept for lunch and dinner.
The company also plans to invest in the bedrooms as the business evolves.
Shannon Springs Hotel has benefitted from its location close to Shannon Airport, which overall has seen passenger numbers in 2014 increase by 17% year on year to 1.64 million.
Dave Murray, head of brokerage for Ireland at Christie & Co comments: “The sale of Shannon Court Hotel to Clare Road Hotel Services Limited demonstrates further evidence of the high levels of interest for trading hotels in provincial locations in Ireland. The level of appetite from domestic lenders is also very positive as they are increasingly active in regional locations for hotels with strong business potential.”
John Gavin and Dermot Kelly of Clare Road Hotel Services Ltd said: “We are both really delighted to have purchased the landmark Shannon Springs Hotel. We have taken over a great hotel with great staff that will be the driving force to its continued success.
“We have very ambitious plans for the hotel and are looking forward to sharing these with the team and getting started. We have already completely refurbished the hotel kitchen and have introduced an exciting Gastro Menu to the pub which has been very well received to date. Over the coming months we also plan to open the restaurant and roll out a new concept for lunch and dinner as well as invest further in the hotel bedrooms.”