The Cavan Crystal Hotel
IF YOU fancy the challenge of owning and running your own hotel in Ireland, then the latest property to come on the market through Savills could be for you.
The Cavan Crystal Hotel, located on the Dublin Road in Co. Cavan is currently for sale with a guide price of €2.5million under the instruction of Kieran Wallace, Receiver, KPMG.
Built in 2002, this four star hotel is located on the main approach to Cavan town and features 85 spacious bedrooms, bars, restaurant, conference and banqueting facilities and leisure centre.
According to Savills, Cavan Crystal is a consistently profitable hotel.
It benefits from a strong existing trade and further growth is forecast. Its large local catchment area has developed a strong mix of both corporate and leisure business.
Tom Barrett, Head of Hotels and Leisure at Savills said: “This is a fantastic opportunity to acquire a strong local hotel benefitting from an established mix of leisure and corporate business. It is trading profitably and is well positioned to capitalise on the strong recovery being experienced in the hotel sector at present.”
He added: “This is an excellent opportunity to purchase a hotel with both well-established and growing trade.”
The Cavan Crystal hotel is well-known as a popular business and wedding venue with five air-conditioned conferencing suites which can cater for between 14 — 65 delegates.
It also has two function rooms, the Balavaun Suite and the Trinity Suite catering for 600 and 450 theatre style or 400 and 250 banquet style.
The hotel is well regarded in the area and has an excellent reputation for first class food.
The hotel’s Leisure Club, which has over 500 members, comprises of an 18 metre swimming pool, jacuzzi, sauna, steam room and a fully equipped gym.
The hotel also includes a beauty and hair salon — further expanding the leisure offering.
Also included in the sale is the former Cavan Crystal retail show room — which forms part of the main hotel — and a separate large modern industrial unit, located to the rear of the hotel.
Cavan Town is situated 110km from Dublin (one hour and 20minutes) and 50km from Enniskillen.
The region offers a large number of outdoor activities and attractions such as fishing and kayaking, due to its close proximity to a large concentration of lakes both in the county itself and in neighbouring Fermanagh.
The hotel sector in Ireland enjoyed much improved trading conditions last year, largely driven by an increase in visitor numbers and a resurgent Irish brand.
This growth is expected to continue throughout 2014, with regional locations to benefit from improved local demand and increased tourism from overseas.
The property is available free from management agreement, if required.