The Radisson Farnham Golf & Spa Resort in County Cavan has been brought to the market today by Savills with a guide price of €26m. Savills is handling the sale on behalf of the Receiver, Aiden Murphy of Crowe Howarth.
The 16th century County Cavan Estate is one of Ireland’s largest land holdings with 1,250 acres. The Estates upscale 4 star hotel has welcomed guests since 2006 and includes 158 generously appointed bedrooms and suites enjoying panoramic woodland views. The hotel is trading exceptionally well with further growth forecast and is being sold with or without management agreement or franchise, as required.
Tom Barrett, Head of Hotels & Leisure at Savills said: “Farnham Estate is one of the largest and most profitable hotel resorts in Ireland. Combined with immense heritage, it will appeal to both domestic and international buyers”.
Farnham Estate is only 90 minutes’ drive from Dublin and 2 hours from both Belfast and Galway, with approx. 4 million people within 2 hours drive. The hotel provides an extensive food & beverage offering including Botanica Restaurant and The Wine Goose Cellar Bar which provides guests with an atmospheric setting. With its idyllic surroundings and luxurious offering, the hotel hosted 121 weddings in 2015 and the well-appointed conference & meeting rooms can accommodate 380 conference delegates. The 40,000 sq. ft Heinz Schletterer designed luxury spa is finished to an exceptional standard and includes 19 treatment rooms, sauna, aroma baths, and laconium The hotel features a fully equipped gym and signature indoor / outdoor hydrotherapy infinity pool, offering guests the perfect environment to unwind in the resorts tranquil setting.
Farnham benefits from hundreds of acres of historic woodland & countryside, including an 18 hole Jeff Howes designed championship golf course. Due to the scale of the land holding, the Estate also provides 7km of walking & cycling trails, as well as lakes with fresh-water fishing. Potential future development may also be of interest to perspective purchasers.
The Irish hotel industry is performing very well and in 2015 passenger traffic through Dublin Airport grew by 15% to 25m passengers, with continued growth of 15% in the first four months of 2016. Dublin Airport hotel trade grew faster than passenger numbers, with RevPAR up 27% in 2016 and up 23% April YTD. Irish luxury resort hotels also achieved impressive growth with RevPAR up 16% in 2015 and increasing by 17% in the four months to April 2016.