Ashbourne hotel guiding €8m

Another hotel owned by a business syndicate headed by Paddy Kelly and John McCabe, the Pillo Hotel in Ashbourne, Co Meath, is to be offered for sale at €8 million through Savills Hotels & Leisure.

The profitable four-star hotel is being sold on the instructions of Kieran Wallace of KPMG who was appointed receiver by the former Anglo Irish Bank. The business benefits greatly from its close proximity both to Dublin Airport and the thriving Tayto Park. The next owners will have the freedom to trade under a new brand.

The 148-bedroom hotel with a modern layout and light filled public areas first opened for business in 2007 under the Marriot brand. Its five-storey layout includes a restaurant and bar together with generously proportioned conference and banqueting facilities capable of seating 550 guests. The Pillo also includes a particularly fine health and fitness facility, benefiting from a fully equipped gym, swimming pool, sauna, steam room and jacuzzi. The leisure centre has a membership of over 1,000. In addition to these leisure facilities, there is also an eight person treatment room, spa and hydrotherapy area.

Aaron Spring of Savills says the hotel is well placed to capitalise on improved trading conditions, offering investors a modern attractive hotel with a strong reputation and excellent connectivity to Dublin and Ireland's busiest airport.

Other local attractions include the world famous heritage site at Newgrange, Fairyhouse racecourse and Tayto Park which has plans to increase its yearly visitor numbers from 450,000 to over 850,000 by 2018.