A landmark Killarney hotel has been put on the market for €20 million.
The International Hotel is described as a rare trophy asset in Ireland’s tourism capital by sales agent, CBRE.
The 98-bedroom hotel in Kenmare place, is located in close proximity to the Killarney National Park and Town Centre, as well as the Ring of Kerry and Wild Atlantic Way.
Paul Collins, head of CBRE Hotels Ireland says the sale is expected to attract strong investor interest.
He says this is especially the case given the scarcity value of the hotel - that a property of this scale rarely comes on the market
The International Hotel has a guide price of 18 to 20 million euro.
CBRE says it is almost a decade since a major Killarney hotel was last brought to the open market – and that was a NAMA-driven disposal.
By contrast, the International Hotel has not changed hands since 1976, when it was acquired by the Coyne family.
Over nearly fifty years of ownership, they have combined significant investment with respect for the property’s heritage, ensuring its position as one of Killarney’s leading four-star hotels.
CBRE says the International Hotel is in the heart of Killarney and the town consistently delivers some of the strongest hospitality performance metrics in the country. Against that backdrop, opportunities to acquire a flagship hotel of this scale are vanishingly rare.
The company says that the property is offered free of branding ties, giving new owners the flexibility to continue its established independent identity or pursue a repositioning strategy.
