Breaffy House Bought By Great National
Irish hotel management company Great National Asset Management has bought Breaffy House Resort for an undisclosed sum.
The resort, which was in receivership, is located in Castlebar and comprises two three-star hotels – Breaffy House and Breaffy Woods Hotel.
Breaffy House Hotel dates back to 1890 and comprises 106 bedrooms, a lounge, bar and restaurant, and conferencing facilities. It also has a leisure centre and spa.
Breaffy Woods Hotel was constructed in 2006 and comprises 128 bedrooms, a bar and restaurant, and a sports and events arena.
The Breaffy House Resort sale was handled by Savills Hotels & Leisure, on behalf of the receiver Michael McAteer of Grant Thornton.
Tom Barrett, head of hotels and leisure at Savills Ireland, says that the resort attracted strong interest from domestic and international hoteliers and investors.
“The prospect of acquiring a successfully managed and profitable hotel was a key component in the sale and truly reflective of the strong recovery taking place in the Irish hotel market.”
Barrett adds: “The demand for hotel services in Ireland is undoubtedly being driven by the continued revival in the tourism sector. In the first half of 2014 there were an additional 324,400 (10%) overseas visitors to Ireland, which underpins the ongoing recovery in the hotel industry.” (August 2014)