New Irish hotel investment firm targets acquisitions worth Euro 40 million

A new Irish investment fund is hatching plans to spend upwards of €40 million on five Irish hotels, as competition among investors for distressed hotels intensifies.

GN Asset Management, which has just snapped up the Breaffy House resort in Mayo for €3 million, will close the sale of another hotel within weeks.

The fund intends to buy around five properties in the €8 to €10 million price range over the coming 18 months. ...