The Radisson Blu Hotel in Cork has been bought by an Irish investment group for more than €8m, securing the future of the four-star hotel’s 150 jobs. New owners are Irish investment company iNua Hospitality, which set up a €20m investment fund in February for hotel purchase, and it promises increased activity and purchases next year, with one or two more purchases, possibly within the next month. The Radisson Blu Hotel, built around a period house called Ditcheley at Little Island just east of the city and Jack Lynch Tunnel, opened in 2005, at a reported development cost of €37m, spearheaded by dentist-turned-developer Rick Fitzgerald of the Roan Group, with input from experienced hotelier Des O’Dowd. It went up for sale in June, guiding €8m with agent Denis O’Donoghue of Savills, and is understood to have gone for more than its guide price.
This is an extract. Read the full article in the Irish Examiner.