€1.5m to be spent on landmark Naas hotel

Killashee Hotel, Naas.

Killashee Hotel, Naas.

Staff at the Killashee House Hotel, Naas, have welcomed the takeover of the enterprise by a venture capital concern which has now acquired a number of similar properties - including Mount Juliet in Kilkenny.

As reported in the Leinster Leader on August 12, there had been recent speculation about the sale of the 141 bedroom hotel, spa and health centre - which was once a convent and a boarding school for primary school children.

“We are delighted that Brehon Capital is coming in to invest for everybody - customers, staff and people who have booked or intend to book weddings. All of the jobs are being maintained. We are delighted and looking forward to the positives this will bring,” general manager Dee Nix told the Leader.

She said Brehon have agreed to invest €1.5m into the hotel “straight away.”

Ms. Nix added: “We are happy to confirm to existing and new customers that we are out of examinership and fully appreciate this was an unsettling time for everyone. We’re excited about the future of the hotel and look forward to growing our business from strength to strength.”

It’s understood the new owners met with management and staff yesterday (August 25).

According to Brehon Capital Partners and Midwest Holding the 180 staff working there will be retained

BCP director Michael McElligott said the hotel is trading well and the venue hosted 160 weddings in 2013 adding “it is clear destination of choice for couples looking for a special location close to Dublin”.

He also said it is the fifth hotel acquisition Brehon has made and “we have great confidence in the luxury end of the Irish hotel market”.

He said Brehon will continue to seek out investment opportunities across the office, hotel and multi-family segments of the market.

Killashee House Hotel opened for a wedding in November 2000, having been bought in 1998. It opened officially in March 2001.

Prior to the High Court approved buyout, the hotel was operated by Craigfort Taverns, with which local businessman Jack Tierney is associated.

Mr.Tierney is also separately involved with a company known as Marchford Ltd., which operated Lawlor’s Hotel at Poplar Square, Naas.

Killashee House Hotel was a very popular venue during the boom years of Ireland’s Celtic Tiger economy and in 2007 it had a pre-tax profit of nearly €1.25m. But, like many enterprises, the fortunes of the hotel dipped considerably since then and Craigfort made a loss of €6.2m. in 2012.




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