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Hotel Group iNua Raises €40m As It Eyes Deals

Hotel group iNua Hospitality has completed a €40m fundraising.

The privately-owned group, part of the iNua Partnership that also owns the Ditchley healthcare investment vehicle, owns and operates seven hotels around Ireland.

They include the Muckross Park Hotel in Killarney, Co Kerry, which was acquired in 2015 by iNua for more than €6m.

The hotel had previously been owned by businessman Bill Cullen and his partner, Jackie Lavin.

Other properties in its portfolio include the Radisson Blu hotels in Cork, Limerick, Athlone and Sligo.

Its hotels employ more than 1,000 people.

The hotel owner’s backers include Earlsfort Capital Partners and Blackbee Investments.

Earlsfort was established by former Anglo Irish Bank executives Fergal Feeney and Paul Brophy.

Cork-based investment firm Blackbee is chaired by former Ulster Bank chief economist Pat McArdle.

iNua Hospitality said yesterday that 70pc of its original investor base reinvested in the business during the €40m fundraising.

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