Four years after buying the Heritage Hotel in Killenard, Co Laois, two US-based investors are hoping to offload it at a handsome profit.
John Hughes of CBRE is guiding more than €9 million for the five-star hotel, which was sold in the summer of 2014 for well in excess of its €5.5 million asking price.
Properties such as the Killenard are exempt from capital gains tax if resold within four years of the original purchase.
The Heritage and adjoining 18-hole golf course were sold by two receivers to separate investors when the property market crashed.
The hotel continues to attract a substantial number of golfers because of the broad appeal of the Seve Ballesteros-designed course.
Apart from its superb parkland setting overlooking the golf course, the hotel has been maintained to the highest standards since it opened in 2004. There are 98 bedrooms, including three penthouse suites and 10 junior suites.
Apart from the main diningroom (the Arlington), the hotel has extensive wedding, conference and banqueting facilities, as well as six meeting rooms and a 50-seater auditorium/ cinema.
The venue hosted more than 60 weddings last year.
The Heritage is noted for its spa, one of the top five in the country, a well-finished facility alongside 20 treatment rooms. There is also a health club with a gym and fitness studio as well as a 15m leisure pool, Jacuzzi, saunas and steam rooms.
