Savills has sold the 113-room Maldron Hotel in Oranmore, Galway to a private investor for €13 million.
Situated off the N18, the four-star hotel also comprises a bar and restaurant, a leisure centre and meeting rooms.
The Maldron Hotel Oranmore Galway was put on the market in September 2022, for a guide price of €13 million, with a current upward only rent of €900,000, representing a net initial yield of 6.3 per cent.
The property was offered for sale subject to an existing occupational lease with Caruso, guaranteed by Dalata, with over 11 years remaining. The hotel will continue to be leased and operated by Dalata Hotel Group.
CBRE acted for the buyer.
What they said
Tom Barrett, director of hotels & leisure at Savills Ireland said: "We are delighted to have managed the successful sale of the Maldron Hotel Oranmore Galway to a private investor.
"This transaction highlights the continued confidence in the Irish hospitality market, particularly for well-established and well-located assets such as the Maldron Hotel."
Paul Collins, Head of Hotels, Ireland at CBRE said: "Having Dalata as the tenant and operator was a key factor in our client’s decision to acquire the hotel. Furthermore, the asset is situated in one of Ireland’s strongest trading locations, demonstrating the ongoing appetite for best-in-class hotels."