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The hotel group iNua Hospitality has completed a fundraising of € 40 million.
The iNua Hospitality hotel group completed a fundraising of 40 million euros.
The private group belonging to the iNua Partnership, which also owns the Ditchley investment vehicle, owns and operates seven hotels in Ireland
. the Muckross Park Hotel in Killarney, Co Kerry, acquired in 2015 by iNua for more than 6 M €.
The hotel previously belonged to businessman Bill Cullen and his partner, Jackie Lavin.
Other hotels in his portfolio include the Radisson Blu hotels in Cork, Limerick, Athlone and Sligo.
Its hotels employ more than 1,000 people
The hotel's backers include Earlsfort Capital Partners and Blackbee Investments.
Earlsfort was founded by Fergal Feeney and Paul Brophy, former leaders of Anglo Irish Bank
Blackbee, a Cork-based investment company, is chaired by Pat McArdle, former chief economist of Ulster Bank
. He added that as part of a five-year growth strategy, he has moved to a single hotel group structure and is focused on improving performance and revenue, and the number of people. adding properties.
Founder and CEO Noel Creedon said the company remains focused on achieving strategic investments that bring value to investors.
"iNua Hospitality is positioned for the future growth of our current portfolio and for new opportunities." We continue to focus on pursuing investment in our existing portfolio and our employees, as well as on the pursuit of strategic investments and return on investment. Mr Creedon added that the consolidation of the company's hotel properties into a single group had been funded by Earlsfort Capital Partners on a debt basis, and that Blackbee Investments was providing equity.
generated a record profit of 7.1 million euros before interest, taxes, depreciation and amortization (EBITDA) last year
As part of the management of iNua Hospitality, the Average hotel portfolio occupancy rose from 60pc in 2014 to 73pc in 2017.
There are currently 760 rooms in the portfolio of seven hotels.
The group is aiming for a 34pc increase in ebitda over the next five years, bringing the figure to 9.5 million euros in 2022.
The group of hotels currently valued at € 90m.
More than 10 million euros of investments have been invested in hotel improvements over the past four years, when the group started buying properties.
Irish Independent
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