Slieve Russell Hotel on market for £30m

The Slieve Russell Hotel in Co Cavan has been put in the market with a  £30m price tag.

The four-star golf resort and country club in Ballyconnell, once formed the showpiece of former billionaire Seán Quinn’s business empire in the Fermanagh and Cavan border region.

The asking price for the hotel, which sits in a 300-acre country estate, is higher than previously reported but is still expected to trigger a bidding war between Irish and international investors.

Cavan-born businessman and one-time Irish presidential candidate Sean Gallagher is expected to be among the bidders.

However, he maintained he would only progress the offer with Sean Quinn’s blessing.

The Slieve Russell has been under control of the Irish Bank Resolution Corporation (IBRC) since 2011.

It has remained profitable and around €7.5m has been invested in upgrading the resort since 2019.

With capacity for up to 1,000 guests, the 224-bedroom hotel remains a popular choice for weddings and events in the border region.

Opened in 1990, the Ballyconnell resort features 50 acres of lakes and is considered one of the island’s best parkland golf courses.

Designed by Patrick Merrigan, its 18-hole championship course is one of just eight PGA national-designated resorts in the world.

Commenting on the Slieve Russell listing, Paul Collins, who heads CBRE’s hotel division said: “This is a rare opportunity to acquire one of Irelands best known and highly profitable resort hotels.

“The scale of ongoing investment in the hotel’s facilities and its growing business will appeal to the national and international investment market.”