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News Release

Dublin

The Viking Hotel, Cork Road, Waterford

JLL Achieve Region €5M For Three Star Waterford Hotel


​On behalf of the receiver Tom Kavanagh, Deloitte, JLL has advised on the successful sale of the Viking Hotel, Cork Road in Waterford City. The hotel has been sold to a private Irish investor, Situs Hospitality, for a price in the region of €5M, well above the original guide price of €4.0M.


The 98 guestroom three star hotel, which includes the Valhalla Restaurant and Asgard Bar, will continue to be operated by the PREM Group, one of Irelands largest domestic hotel operators.

Dan O’Connor, Senior Vice President, JLL Hotels & Hospitality Group commented: 

“The Viking Hotel sale attracted strong buyer interest, attracting numerous bids and a wide array of interest. The strong price achieved highlights the continued improvement in hotel values and yield compression, which we have seen occur across the provincial Irish hotel market during 2016”.

James Wood, Associate, JLL Hotels & Hospitality Group further noted: 

“Despite recent global events such as BREXIT, buyer demand for provincial Irish hotels such as the Viking remains robust, buoyed by the strong fundamentals of a thriving Irish tourism market and improving economic conditions locally”.

Deloitte were advised by JLL and Mason Hayes & Curran on the transaction.

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