Savills has sold Cork International Airport Hotel to an international investor on behalf of receiver Grant Thornton. The prime four-star hotel property went on the market in June 2012 and has now sold in excess of the guide price of €4.75m.

The property, which opened in July 2007, is located at Cork International Airport within walking distance of the Airport Terminal.  The hotel comprises 145 luxurious bedrooms, lounge, bar, restaurants, sandwich bar and bakery. There are extensive conference and banqueting facilities which can cater for up to 320 people and 10 meeting rooms. Other unique features include a Pullman Lounge with 10 first class airplane style seats and a “hairport” hair salon. The property also has extensive parking and a basement that offers potential for further development of the business.

Following a high profile marketing campaign that saw a substantial level of enquiries, a deal was secured with a strong international purchaser who plans to retain Tifco Hotel Group as the hotel operator.  Tifco have successfully managed the hotel since 2009.

Tom Barrett, head of hotels at Savills Ireland, comments: “This is an important sale for the Irish hotel industry and is a vote of confidence for the Cork economy. It demonstrates that there is strong demand for good hotel properties and international investors are buying outside of Dublin.”