Sale of Kildare venue likely to fetch biggest price of any hotel this year

Nama is preparing to bring Carton House hotel resort to the market within the next two months.

The 165-bedroom hotel, on 1,100 acres in north Co Kildare, was developed by the Mallaghan family and developers Paddy Kelly and Nobby O'Reilly at a cost of about €80m.

The last available accounts show the company posted sales of €16.4m and made a profit before interest and rentals of €1.55m in 2014.

Carton House is also the camp for the Ireland rugby team.

According to CBRE, only seven hotels changed hands, for a total €26m, in the first quarter of this year, compared with 14 sales totalling more than €47m in the same period for 2016.

The market has since show signs of reviving, with Mount Wolseley in Co Carlow and Knightsbrook in Co Meath up for sale.