Hastings Hotels has announced the sale of Slieve Donard Resort and Spa to US-based Adventurous Journeys (AJ) Capital Partners after almost 50 years of ownership.
Following the acquisition, the hotel will retain all current job roles and honour all food, accommodation and wedding bookings, and be operated by AJ Capital Partners under its Marine & Lawn Hotels and Resorts brand.
Hastings Hotels has owned the Slieve Donard Resort and Spa since 1972, described the sale as a ‘positive development’ and will now focus on investing in its portfolio of six other hotels in Northern Ireland including the Grand Central and Europa Hotels in Belfast, and the five-star Culloden Estate and Spa.
Hastings Hotels managing director Howard Hastings said: “This investment is a strong sign of confidence in the local market by a major international hotel operator with exciting ambitions for the Slieve Donard Resort and Spa in the coming years. I have every confidence that AJ Capital Partners will be sympathetic to the heritage of the hotel and that, under their leadership, it will continue to flourish and maintain its reputation as an iconic destination in Northern Ireland.”
AJ Capital Partners comprises over 40 hotels in the US and UK, such as Rusacks Hotel Scotland and The Graduate Hotel in Oxford.
AJ Capital Partners CEO and founder Ben Weprin said: “We are honoured to welcome Slieve Donard Resort & Spa to the Marine & Lawn collection. It’s a tremendous responsibility and honor to be the next steward of this timeless asset. The Hastings family has held that distinction for nearly 50 years and we plan to carry and uphold the tradition and spirit of this iconic property and connect it with our existing assets to create a collection unparalleled in the golf world.”
Hastings Hotels was advised on the transaction by Arthur Cox, CBRE Hotels and PwC. Bank of Ireland was advised by Pinsent Masons.
AJ Capital Partners was advised by A&L Goodbody, PwC and Travers Smith.