Industry & Business

Prem Group buys Tulfarris Hotel & Golf Resort for €8bn

Prem Group buys Tulfarris Hotel & Golf Resort for €8bn

May 30
13:04 2016

download (2)Prem Group has bought Tulfarris Hotel and Golf Resort in, Co Wicklow for more than €8 million.

The hotel has been managed by the Dublin based company for the past seven years and its chief executive Jim Murphy said the acquisition will help its plans to own 50 properties across key markets by 2017.

The hotel operator s owns, leases or manages 43 properties across Ireland, the UK and Europe with 3,500 guest rooms and 1,500 employees under management.

Last year the Prem Group announced a funding package worth €30 million with Proventus Capital Partners which it has used to finance expansion.

“The growing popularity of the serviced apartment / apart-hotel sector in Ireland and the UK shows that increasing numbers of business and leisure travellers are choosing more flexible alternatives to traditional hotel accommodation for extended stays,” Mr Murphy said.

“We are looking at a pipeline of locations to expand our Premier Suites collection in major cities across Europe.”

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