TWO WELL known hotels are going for sale with guide prices of less than €1 million each. Tom Barrett of Savills has been appointed by receivers to handle the sale of Ashbourne House Hotel in Ashbourne, Co Meath, and the Clare Inn beside Dromoland Castle in Co Clare.
Kieran Wallace of KPMG was appointed receiver to Ashbourne House Hotel by Anglo Irish Bank after it secured court orders entitling it to recover €28 million over unpaid property loans and guarantees by Dublin businessman Liam Smyth.
The three-star hotel had a turnover last year of almost €2 million from a strong business mix across rooms, food, beverage and functions. The hotel was substantially upgraded and extended in recent years and now has 45 bedrooms, three bars, a restaurant and conference and banqueting facilities for up to 700 people. Savills is quoting a guide price of €975,000.
In Co Clare, Michael McAteer of Grant Thornton has been appointed statutory receiver to the Clare Inn Hotel which was run by the Lynch Group until it went into examinership in July, 2009.
The three-star hotel is currently run on a short lease by Pat McCann’s Dalato Hotel Group and has 183 bedrooms, bars, restaurant and conference and banqueting for up to 450 people.
Savills is quoting a guide price of €900,000 for the hotel package which does not include 32 suites in the grounds. The hotel stands on a site of 21 acres overlooking the Dromoland golf course, the Clare hills and the Shannon estuary.
