HOT on the heels of the sale of the Butler Arms Hotel in dazzling Waterville for an undisclosed sum, near-neighbor the Sea Lodge has been put on the market for €1.6m.
The 12-bedroom, modern, purpose-built hotel overlooking Ballinskelligs Bay underwent a stylish refurbishment in 2015, when it was purchased by local man Eoin Moriarty, who invested €3m in the makeover.
According to Georgina Campbell’s hospitality guide, Mr Moriarty had spent his childhood summers working in the old hotel, which was owned by an aunt and uncle. He invested heavily to turn it into a contemporary-style boutique hotel after purchasing it, but is now selling for just over half of what the revamp cost.
The property is superbly located, on the Ring of Kerry and the Wild Atlantic Way, and was previously profitable, but suffered from the impact of covid. Real estate agent Colliers who are selling the hotel say there is scope for growth through room expansion. There are currently just a dozen bedrooms and a very large food and beverage space, including a function room.
Between bar, restaurant and function room, there is scope to cater for up to 350 people.
Abigail Holland, Colliers Hotels and Leisure agent, said they are expecting local interest but are also likely to talk to the likes of hospitality group Press Up, linked with Paddy McKillen Jnr’s Oakmount development business, which has delivered a series of sites operated by the hospitality group.
“I think a lot of interest will come from locals but also from the Press Up Group who are in that part of the market at the moment,” Ms Holland said.
Press Up/Paddy McKillen Jnr bought the Butler Arms, also on Waterville’s seafront, last year after the Huggard family, who had run it for more than a century, sold up.
Press Up also bought the Skelligs Chocolate Factory in nearby Ballinskelligs last year and 84-bed Dunboy Castle in West Cork’s Castletownbere, which it plans to turn into a five-star destination resort. Dunboy Castle was restored at a cost of millions of euro more than a decade ago, but never opened due to the financial crash.
Sea Lodge, which had a successful wedding trade in the past, is at the heart of Waterville, in close proximity to the world-renowned Waterville Golf Links and the exclusive Hogs Head golf course.
Ms Holland said the turnkey property was “an exceptional opportunity for a hospitality investor to acquire a quality asset in an outstanding tourist destination with excellent trading prospects”.
She added that the regional Irish hotel market is “one of the fastest growing markets in Europe, posting an impressive RevPAR growth”.
Kerry county attracts 13% of all overseas visitors to Ireland and one in three American visitors includes Kerry on their itineraries.
Abigail Holland, Colliers, Tel: 016333776 or Email: firstname.lastname@example.org
email@example.com. The content will be deleted within 24 hours.