US buyers of Slieve Donard ‘eyeing another NI hotel’

The group behind the £40m purchase of the Slieve Donard Hotel is reportedly closing in on a second Northern Ireland acquisition.

In October AJ Capital paid the Hastings Group around £40 million for the hotel, which is located next to Royal County Down Golf Club, adding it to its existing portfolio of luxury golf hotels.

Rebranded last year as the Marine & Lawn Collection, it includes the Marine Troon, Rusacks St Andrews and Marine North Berwick, all in Scotland.

Now it is being reported that industry insiders have said the Nashville-based investor has been actively seeking to expand its Marine franchise in Northern Ireland, with a second deal to close to being done.

Speaking at an event in Belfast earlier this month, Philip Allen of AJ Capital namechecked both the Royal County Down and Royal Portush golf courses adding: “I don’t think you have to be a genius to work out where we might be looking next.”

Another US investor is currently developing a five-star luxury golf resort next to Royal Portush.

Planning permission was approved last year for 35 new suites at Ballykeel Beg House, which overlooks fourth fairway of the championship course, while  Dunluce Lodge would offer a coastal location next to a world class golf course.

It’s also understood that AJ Capital had originally entered negotiations to buy both the Slieve Donard and the Culloden Estate from the Hastings Group, but a Hastings spokesman said there were no ongoing conversations.

TRU Hotels, the US operator of the Lough Erne Resort in Co Fermanagh has also ruled out selling its prized asset.

It’s understood the group is preparing a major investment at Lough Erne in 2022.