Dalata Hotel Group, the largest hotel operator in Ireland, has exchanged contracts for the sale of the Maldron Hotel Wexford, to the Neville Park Hotel Group.
The group said the sale of the hotel, which was assisted by Savills, is an opportunity to capitalise on an 'attractive valuation' and recycle capital through Dalata’s business to drive further growth.
'Immediate Priority'
"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."
Employee Engagement
Team in place at the Maldron Hotel Wexford will transfer to the Neville Park Hotel Group.
Dalata has commenced a process of employee engagement to ensure transition.
The Transaction is scheduled to complete by November 5.
'Fantastic Addition'
"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."
Clayton Hotel Whites Wexford
Dalata Hotel Group also announced it is in exclusive discussions with a preferred bidder regarding the sale of the Clayton Hotel Whites Wexford.
Further details will be announced in due course and Dalata said there is no certainty that a transaction will be completed.
