DALATA PICKS UP PART OF PROJECT NADAL IN IRELAND
Dalata Hotel Group is buying two new hotels in Ireland. The Dublin-based group has agreed to acquire the four-star, 195-room Clayton Hotel close to the Ballybrit Racecourse in county Galway and the four-star, 157-room Whites Hotel in the town of Wexford, for €31.7 million, payable in cash. The sale price of the Clayton Hotel is reported to be €20 million (€102,600 per room) and the Whites Hotel fetched €11.7 million (€74,500 per room). Dalata has operated both hotels under management contracts since 2009 and the sale is expected to close in the next four weeks. The hotels were on the market as part of the €200 million Project Nadal portfolio, which includes eight hotels and two hostels that are being sold by Ulster Bank as part of its ongoing divestment from Ireland’s hotel market. Apollo and Goldman Sachs are said to also be purchasing assets from the portfolio.