Neville Hotels Acquires Druid’s Glen Hotel and Golf Resort in Ireland
Main Photo: The restaurant at Druid’s Glen
Date: June 2019
Location: North Wicklow, Ireland
Names: The Druid’s Glen Hotel & Golf Resort – five-star
No. of Keys: 145
Seller: The North Wicklow resort, which has hosted four Irish Open golf championships, is owned by three Irish families – the Lappins, the Hurleys and the Flinns.
Obalus Hotel Company Ltd (the firm behind the Druid’s Glen hotel) accounts show it returned to pre-tax profitability in 2017.
Accounts filed for 2017 show the company recorded pre-tax profits of €978,887 after revenues increased by 6pc from €12.13m to €12.67m.
The company recorded the pre-tax profit after a pre-tax loss of €1.39m in 2016 that arose from exceptional costs of €2.77m.
The hotel was recently branded under Marriott, but it was sold flag-free.
Buyer: Irish family-owned hotel group Neville Hotels is reported to have exchanged contracts to acquire the Druid’s Glen Hotel and Golf Resort in North Wicklow, Ireland, for some €45 million.
The five-star, 145-room hotel and golf resort boasts two 18-hole championship golf courses on which it has hosted four Irish Open golf championships. Additional facilities on the Druid’s Glen Hotel include a spa, fitness centre, and extensive food & beverage and conference facilities.
The clubhouse at the property, known as Woodstock House, dates back to 1770 and was once used as a writing and recording base by musicians, including Mike Oldfield and Rod Stewart.
The Neville Hotel Group already owns and operates the Royal Marine Hotel in Dun Laoghaire, the Tower Hotel in Waterford City, and the Kilkenny River Court Hotel.
Price: €45m
Price per Key: €310,300
THPT Comment: Good for Obalus that Druid’s Glen has sold, albeit at a reasonable cost…The K Club still unsold after being on the market for a year plus.
First Seen: The Independent of Ireland
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