Carton House expected to go on sale soon

Carton House is expected to come on the market soon with a price tag of €50m. The upmarket hotel and 1,100-acre golf resort near Maynooth made €1.6m profit before interest and rents in 2014. Prospective bidders would include the US billionaire John Malone who has bought several hotels in Ireland in recent years. The Nama-owned property is regularly used as a training base for the Ireland rugby team. The venus is not in receivership and its owners, a group led by the Mallaghan family, have been trying to bring in an investor to refinance its debts. The 165-bed hotel was developed by the Mallaghans and developers Paddy Kelly and Nobby O'Reilly at a cost of about €80m. There are housing developments on the estate, which also includes two golf courses and sports training facilities.