CBRE has confirmed the sale of the Slieve Russell to Brady Hotels Ireland Limited for an undisclosed price.
Northern Sound revealed on Friday evening that the sale had concluded earlier that day and it was purchased by Cavan native Tony Brady.
The 224-bedroom hotel in County Cavan, includes luxurious and extensive banqueting and leisure facilities together with a renowned PGA Championship golf course.
Brady Hotels is owned by Australian based developer, Tony Brady, who is originally from Cavan.
Tony Brady of the Brady Hotels Ireland Limited, said: “It is a real honour to be the successful purchaser of this beautiful property. It has an outstanding golf course and a lovely hotel. The golf course has got PGA National status, the only such golf course in Ireland and one of only a limited number of PGA courses in the world.
“I have also been really impressed with the staff and in particular the general manager Tony Walker and Orla Murphy who is head of HR. The Slieve Russell will continue to be run by a local team who are doing an excellent job. Slieve Russell employs hundreds of people locally, both full and part time, and it an important part of the community”.
Paul Collins, head of CBRE Hotels Ireland, added: “This was a tremendous sale to be involved in. We had considerable interest from both domestic and international investors and while the ultimate buyer is an Australian company, they have extremely strong Cavan connections”.
