Athlone Springs Hotel goes on the market for €3.5m

A popular local hotel has gone on the market with a guide price in excess of €3.5 million.

CBRE Hotels announced today (Thursday) that the Athlone Springs Hotel in Monksland was being offered for sale as a going concern.

The hotel is being sold by private treaty on the instructions of Aengus Burns, Grant Thornton, in conjunction with owners.

The four-star facility opened for business in July 2007. It is described as a 'well-established and successful 68 bedroom hotel business' which is easily accessible from all areas of Ireland.

It offers conference and banqueting facilities, a leisure club with pool and gym, a restaurant and bar, and extensive car parking.

Lisa Keogh, Senior Analyst with CBRE Hotels, said: 'Athlone Springs Hotel has established itself as a successful and profitable hotel business.

'The hotel serves a large and well populated hinterland with Athlone being a thriving tourist and commercial base and is home to the only third level college in the Midlands region, including an international indoor running track.

'Strong activity in the hotel sector has continued with more than €800 million of Irish hotel transactions completed in 2016,” she stated.

Last year another Athlone hotel, the Radisson Blu, sold to Cork-based investment firm iNua Hospitality for €9.5m.