Dalata Hotel Group, the largest hotel operator in Ireland, has agreed a deal to sell the Clayton Whites Hotel Wexford to Neville Hotels for €21m.
Neville Hotels is owned by local Wexford man Seamus Neville and the group's portfolio includes the Ravenport Hotel in Wexford, Druids Glen in Wicklow and the Royal Marine in Dublin.
Earlier this year, Dalata sold the Maldron Hotel in Wexford to the Neville Park Hotel Group for an undisclosed sum.
Dalata said that as previously announced, substantially all of the net proceeds from today's deal and the sale of Maldron Hotel Wexford, are being returned to shareholders through the current share buyback programme announced in October.
The hotel group said it remains committed to the Irish market and its portfolio where it is the leading hotel operator through its Clayton and Maldron brands.
The deal for the Clayton Whites Hotel Wexford is expected to be completed in January.
Savills advised the hotel group on the transaction.
Dermot Crowley, CEO of Dalata Hotel Group, said The Clayton Whites Hotel Wexford has been a significant part of Dalata's journey.
"The hotel has a strong management team in place and a proven track record of strong performance, providing me with confidence that it will continue to excel as part of Neville Hotels. Our focus now is to ensure a smooth and positive transition, providing support to our colleagues throughout this period of change," Mr Crowley said.
"As the leading hotel operator in Ireland - a strategic market for the business - we remain committed to delivering industry leading hospitality for our guests across all of our hotels," he added.
Therese Kelly, Director of Neville Hotels, said the hotel group was delighted to add Whites Hotel in Wexford to its portfolio of hotels.
"This acquisition marks our sixth hotel for the group and we feel this hotel will complement our new property in Curracloe, The Ravenport Resort, very well," Ms Kelly said
Dalata Hotel Group shares were lower in Dublin trade today.
