McManus and Saliba battle for Adare Manor

Two rival bidders are in the running for the five-star Adare Manor as a new wave of overseas money trains its sights on Irish hotel assets.

Two rival bidders are in the running for the five-star Adare Manor as a new wave of overseas money trains its sights on Irish hotel assets.

Tralee Portfolio Management (TPM), the US private equity firm linked to the Chicago-based Saliba family, last week submitted a bid for Adare, which is expected to sell for a sum in the region of €40 million.

An overseas fund with connections to Limerick billionaire JP McManus is ...