THE Ramada Hotel in Portrush has been put on the market for £2.75 million. In what could be considered the first move as hotels jockey for position ahead of the lucrative visit of the Open golf championship in 2019, the property is being offered by agents CBRE. The three-star hotel on Main Street in the town features 69 ensuite bedrooms, a fully licensed bar and restaurant as well as conference and banqueting facilities and rear car parking. The hotel, which is in administration, was extended from 50 in 2004 and CBRE said "with further strategic investment the Ramada Hotel has the potential to significantly grow its revenues and profitability into the future".
Lisa McAteer, associate director at CBRE said: "The sale of the Ramada Hotel in Portrush offers a great opportunity for investors to acquire a substantial and profitable hotel business in the heart of the well-renowned seaside resort. "In the past nine months alone there have been 45 hotel property sales totalling almost €280 million completed in the Irish market, demonstrating a strong demand and a remarkable turnaround for the hotel sector. "We expect significant interest from investors who recognise the strength of the hotel market as well as the opportunity to grow a business that benefits from having the globally recognised Ramada brand behind it."
Administrator Gregg Sterritt from RSM McClure Watters said: "We have had significant interest in the purchase of this property from the outset of the administration. Now that we are in a position to bring this property to the market we anticipate strong demand to acquire this landmark north coast Hotel. "The hotel is a strong trading entity with a committed and diligent workforce. We look forward to the forthcoming sale and the continued progress of the business into the future."