Savills has advised the vendor on the sale of the four-star Radisson Blu Hotel and Spa in Cork, Ireland, to iNua Hospitality for a sum exceeding its €8 million asking price. The 126-bedroom hotel is located within the eight acre (3.2 hectare) grounds of 19th century Ditchley House, 9km east of Cork City in Little Island and began trading in June 2005.

The hotel, which is managed by leading international hotel company Rezidor and operates under the four-star Radisson Blu brand, trades very successfully and has achieved particularly strong profit growth over the last three years. There are 13 Rezidor hotels in Ireland, 10 of which trade under the Radisson Blu brand.

The asset includes a large lobby and lounge, bar, function room for up to 500 and nine additional meeting rooms. The hotel is also well established in both the wedding and conference markets. In addition, there is an extensive leisure centre with a gym and 18m swimming pool, which has approximately 1,000 members along with a high specification Retreat Spa containing nine treatment rooms. There is also parking for over 300 cars and a children’s playground.

Tom Barrett, head of Savills Hotel & Leisure team in Ireland, says: “Savills received very strong interest in this property which is the sixth Cork hotel transacted by Savills in the last 12 months. Hotel occupancy and room rates in Cork are robust with Trending.ie reporting RevPAR growth of 9% October year to date, supported by excellent corporate and leisure business, both domestic and international.”