Dalata Hotel Group is selling the Maldron Hotel Wexford to The Neville Park Hotel Group and is in talks with a preferred bidder for the Clayton Hotel White’s Wexford, although there’s no guarantee of a completed sale for White’s.
The Neville Park Hotel Group, owned by Colm Neville, already operates two properties in Wexford and one in Portlaoise, and aims to enhance the Maldron Hotel’s bar and restaurant business.
While the sale price for the Maldron has not been disclosed, estimates suggest it could be around €8m to €9m, based on recent hotel property valuations. The deal is expected to be complete by November 5.
Dalata’s CEO emphasised the sale as a strategic move to capitalise on strong market demand for hotels in Ireland and Europe, while confirming that the company does not plan to sell any other Irish hotels at this time.
The Neville group also consists of The Crown Quarter in Wexford, The Riverside Park Hotel in Enniscorthy and The Midlands Hotel in Portlaoise.
The Maldron, operating as the Quality Hotel, opened in early 2003 at the inertsection of the Dublin and New Ross roads at Ballindinas after a €14m spend.
White’s Hotel, one of the oldest hotels in Ireland, has records tracing back to 1779 when it functioned as a Coach Inn. It was the residence of Oscar Wilde’s mother, ‘Speranza’, and explorer Sir Robert McClure, who discovered the North West Passage.
Michael Burke acquired the hotel in 1997, leading to its closure in 2004 for significant redevelopment after structural faults were discovered. After an extensive renovation by Balmaford, White’s Hotel reopened in 2006, and was purchased by Dalata purchased by Dalata in 2014, having operated it for five years on behalf of a receiver. The two hotels cost €31.4m
Dermot Crowley, CEO of Dalata, commented: “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. Our immediate priority is to continue engaging with our employees as we assist them with the transition.”
Colm Neville said: The Maldron’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. We see great potential to grow the bar and restaurant business within the local market”.
