Dalata Hotel Group, the largest hotel operator in Ireland, has completed the sale of the Maldron Hotel Wexford to the Neville Park Hotel Group.
The net proceeds from the transaction are being returned to shareholders through a share buy-back programme previously announced in October.
In September, Dalata noted that the sale of the hotel, which was assisted by Savills, was an opportunity to capitalise on an ‘attractive valuation’ and recycle capital through Dalata’s business, to drive further growth.
“This is an excellent, well-run hotel, with a strong team in place, and I have no doubt it will continue to perform strongly as part of the Neville Park Hotel Group,” said Dermot Crowley, CEO of Dalata Hotel Group.
“Our immediate priority is to continue engaging with our employees as we assist them with the transition.”
It was announced at the time that the team in place at the Maldron Hotel Wexford would transfer to the Neville Park Hotel Group, and that Dalata had commenced a process of employee engagement, to ensure the transition.
“The potential the Maldron Hotel has is immense, and I am very excited to add it to our portfolio,” said Colm Neville, owner of the Neville Park Hotel Group.
“The hotel’s strategic location and the loyalty of its team, some of whom have been with the hotel for over 15 years, make it a fantastic addition.”
