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Dalata Hotel Group has announced that it has exchanged contracts for the sale of the Maldron Hotel Wexford to The Neville Park Hotel Group for an undisclosed amount.
The Neville Park Hotel Group, which is another prominent player in the Irish hospitality industry, is owned by Colm Neville.
Maldron Hotel Wexford has been described as a well performing property with a strong team in place. As a result, Dalata has commenced a comprehensive process of employee engagement to “ensure a seamless transition”.
The transaction is scheduled to complete by 5 November, by which point The Neville Park Hotel Group will own two properties in Wexford – the Riverside Park Hotel, Crown Quarter and the Midlands Park Hotel in Portlaoise.
According to Dalata, the sale of the Maldron hotel is an opportunity to capitalise on an attractive valuation and recycle capital through its business to drive further growth.
Dalata maintains that it remains committed to the Irish market and its portfolio.
Dermot Crowley, CEO of Dalata Hotel Group, said: “I would like to take this opportunity on behalf of Dalata to sincerely thank the team at Maldron Hotel Wexford, who have been an important part of the Group’s journey.
“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, owner of The Neville Park Hotel Group, added: “I am extremely happy to have been able to purchase such an esteemed property in my home county of Wexford. The potential the Maldron Hotel has is immense, and I am very excited to add it to our portfolio.
“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. We hope to continue their long-standing service and see great potential to grow the bar and restaurant business within the local market.”
