iNua Hospitality has officially completed the purchase of the boutique, 4-star Hibernian Hotel Kilkenny for €7.25 million.
This acquisition further expands their hotel asset portfolio after recently completing the purchase of Muckross Park Hotel in Killarney at the beginning of the year and the Radisson BLU hotels in both Cork and Limerick in 2014.
iNua Hospitalty says the acquisition is particularly attractive because the boutique hotel segment is “the fastest growing segment in the industry
The Hibernian Hotel, Kilkenny is a beautifully restored, modern four star 46 guest bedroom property, offering contemporary accommodation. It is situated in the heart of Kilkenny City with Kilkenny Castle on its doorstep and the cobbled medieval streets and laneways of Kilkenny just around the corner. It’s desirable position, on the corner of Patrick Street and Ormonde Street, is within walking distance of a host of bars, restaurants, cafes and shops. The hotel itself has extensive food & beverage facilities, including the Hibernian Bar, Harper’s, Dinky Bar and Morroson’s late bar.
Noel Creedon, iNua Hospitalty Managing Director says; “The Hibernian Hotel is a well established hotel centrally located in the heart of one of Ireland’s main tourist destinations. The hotel provides strong year round trade.”
Business As Usual
The hotel has consistently generated high profitability and iNua Hospitality plan to build on the current excellent trading performance of the hotel. Investment plans include a soft refurbishment programme of all bedrooms.
Kilkenny City is a popular tourist destination offering medieval streets and natural scenery cultivating a true tourism experience. There is currently major inward investment in the tourist industry locally with the Smithwicks Brewery; the Medieval Golden Mile; and St Francis Abbey. Kilkenny was voted 9th friendliest city in the world by readers of Conde Nast Traveler, the friendliest city in Europe and was named as Ireland’s Tidiest Town for 2014.
Noel Creedon says; “This was a unique opportunity to acquire an unrivalled boutique and profitable hotel at an attractive price. The purchase is consistent with iNua Hospitality’s strategy in investing in well-located, four and five star profitable hotels.”