FBD Hotels & Resorts expands hotel group with agreement to acquire Killashee Hotel for €25m.
The luxurious Kilashee Hotel in Kildare has been acquired by FBD Hotels, a leading Irish hotel and property group that operates hotels and resorts in Ireland and Spain.
Established in the early 2000s, Killashee Hotel is a 141-bedroom hotel with extensive conference, wedding, spa and leisure facilities located 30km from Dublin City Centre, located between Naas and Kilcullen Co. Kildare.
“We are confident that this hotel is a strong strategic fit for our group, offering solid fundamentals in terms of team, location, brand, and historical performance”
The four-star established hotel is situated on approximately 55 acres of extensive grounds. The hotel is being sold by Tetrarch Capital.
Farmer-owned investment group
FBD Hotels and Resorts is owned by farmer-owned investment company, Farmer Business Developments Plc.
Headquartered in Ireland, FBDH&R employs 900 people across its hotel and resort portfolio. The acquisition of Killashee Hotel will see a further 300 people join the FBDH&R group, as the company maintains full employment at the Kildare hotel.
In addition to the Killashee Hotel, the company owns three four-star hotels in Ireland including Faithlegg Hotel, Waterford, the Heritage Hotel and Spa, Laois, and Castleknock Hotel, Dublin.
The group’s portfolio also consists of two four-star resorts in Spain, Sunset Beach Club and La Cala Resort on the Costa Del Sol.
The company also has an extensive landbank in La Cala, Spain, which it is developing partly via joint ventures with international construction company Taylor Wimpey Plc.
The acquisition of Killashee hotel will bring the number of hotel rooms in the group’s portfolio to 1,078.
“Killashee Hotel is a successful business with a longstanding reputation of excellence that aligns strongly with the ambitions and values of FBD Hotels and Resorts,” said CEO of FBD Hotels & Resorts, David Kelly. “ As such, we are confident that this hotel is a strong strategic fit for our group, offering solid fundamentals in terms of team, location, brand, and historical performance.
“As we embark on this next step with Killashee Hotel, we are excited to work with the team to continuously improve the hotel’s services and offering. We have both short- term and long-term investment plans for the hotel to include investments in the business, its infrastructure, and its people.
“We are confident that these investments will allow us to build on the successful reputation of Killashee Hotel, while continuing to maintain the highest quality standards in hospitality going forward.
“Our overall performance continues to be positive. As a sector, the past two years have presented unique challenges but underpinned by a strong balance sheet, a committed team, and forward-focussed ownership, we used the period well and are ready for the next phase of growth right across our portfolio,” Kelly concluded.