iNua Hospitality refinances eight hotels across Ireland

UK: Irish hotel owner and operator iNua Hospitality PLC has refinanced eight hotels within its portfolio of four and five-star hotels.

The refinancing was provided by a group of lenders such as AllianceBernstein and Earlsfort Capital Partners.

Properties that were refinanced include:

• Radisson Blu Hotel & Spa, Sligo

• Hillgrove Hotel & Spa, Monaghan

• Tullamore Court Hotel

• Kilkenny Hibernian Hotel

• Radisson Blu Hotel & Spa, Cork

• Radisson Blu Hotel & Spa, Limerick

• Radisson Blu Hotel & Spa, Athlone 

• Muckross Park Hotel & Spa, Killarney

Sean O’Driscoll, CEO of iNua Hospitality PLC, said: “We are very pleased to have completed this refinancing with AllianceBernstein and Earlsfort and look forward to working with them. The eight hotels in the group all recovered well post-Covid, and we continue to experience very strong demand in 2023, with group occupancy of 82 per cent in the first half of the year, and revenues up 23 per cent on the previous year.”

Paul Brophy, managing director, Earlsfort, said: “We have known the iNua management team since our original funding of this portfolio in 2018.  During this time, they have proven themselves to be skilled operators and we are excited to continue this relationship as they advance their growth strategy for the hotels over the coming years.”

iNua was advised by CBRE’s debt and structured finance team. Director Stephanie Muller said: “We are delighted to have obtained this refinancing on behalf of iNua Hospitality PLC for their portfolio. This transaction further demonstrates appetite from the lending market to support established sponsors with robust operating businesses. Through a comprehensive analysis and relevant representation of our client’s operational strength and financing needs to the market, CBRE was able to secure the most accretive financing solution in for iNua Hospitality.”

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