The Maldron Hotel Oranmore in Co Galway has been put up for sale for €13m by Savills Ireland.
Operated by Dalata Ireland under the four star Maldron brand, Savills said the 113 bedroom hotel represents a rare opportunity to acquire a modern and very high quality leased hotel investment.
The hotel has conference facilities, a leisure club and pool and is located 10 minutes from five business parks and two industrial estates.
At €13m, the current upward only annual rent of €900,000 represents a net initial yield of 6.3%. The property’s next rent review is in January 2023.
The hotel is being offered for sale subject to the existing occupational lease with Caruso Limited, guaranteed by Dalata and with over 11 years remaining.
Tom Barrett, Head of Hotels & Leisure at Savills, said that Galway hotels trade with consistently high occupancy and strong Average Daily Rate (ADR) growth.
“Year round, the city attracts high spending domestic and international tourists. The Maldron Oranmore, represents a rare opportunity to acquire one of Europe’s strongest hotel covenants,” he added.
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