The landmark Connemara Coast Hotel in Furbo has been put on the market with a €12 million price tag.
The 141-bedroom four-star property – which boasts a site of almost 15 acres overlooking Galway Bay – has been in the Sinnott family since 1985.
The premises, which has undergone a series of renovation and enhancement projects over the past three decades, also includes conference and banqueting facilities, two bars and a leisure centre.
It has been trading successfully, recording a profit of €2.8m in 2015 according to the most recently-filed accounts, and is being sold by Mr Sinnott, who turns 70 later this year.
Hotelier Charlie Sinnott said: “The hotel has always attracted a loyal customer base who return year after year to enjoy its beautiful setting and top class hospitality. Over the years, the hotel has been frequented by many famous personalities, actors and politicians including Irish-American film director John Ford who proclaimed that the views over Galway Bay from the hotel were as fine as he had ever witnessed in his life.
“There have been numerous important national and international events held at the hotel including the first annual conference of the International Nobel Women’s Initiative which with five of the seven female Nobel Prize recipients in attendance. Aung San Suu Kyi of Burma/Myanmar was unable to attend as she was being held under house arrest at the time,” he said.
Mr Sinnott bought the then ‘Teach Furbo’ for an estimated £200,000 in 1985 from Irish-American millionaire Bill Fuller, having already taken over the Connemara Gateway Hotel in Oughterard five years earlier.
Teach Furbo was built in 1969 and offered 36 bedrooms with a bar, outdoor heated swimming pool and a conference room for 200 people.
He invested a further £250,000 in bringing the hotel up to four-star standard, and a further £5 million on a major expansion project in the early 1990s.
John Ryan of selling agents CBRE said: “The hotel trades exceptionally well and is highly profitable as it benefits from multiple revenue streams catering to tourists and locals alike. The hotel is being sold unencumbered and offers a new purchaser complete flexibility on branding and management.”
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