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€2m city hotel on the market

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The Hotel Clybaun in Knocknacarra, Galway.

Auctioneers are expecting strong interest in the Hotel Clybaun in Knocknacarra, which has come on the market with a price tag of €2 million.

The 92-bed hotel, which includes a leisure centre with 18 metre swimming pool (NRG Fitness’ lease is not affected), is being sold by Ulster Bank.

It has been run by Tifco, a specialist management company, since it was placed in receivership in 2011 by Ulster Bank after an umbrella company operated by former owner Chris Crehan racked up debts of almost €90 million.

Selling agent Dermot Curtin of CBRE Hotels told Tribune Property: “It’s a profitable business, there’s a lot of cash going through there, even in receivership. It’s pretty much newly-built, so nothing is going to go wrong with the building any time soon.

“It is a business made for a husband-and-wife team or a young successful General Manager who may have an investor behind him or her. It’s all about price and value.

“In recent years, no Galway city hotels have been offered to the market and the sale of the Hotel Clybaun now provides potential purchasers with quite a unique opportunity to acquire a modern, full service hotel in the city and, by doing so, establish a sizeable foothold in the much sought after and extremely lucrative, Galway hotel market.

“This profitable, three star hotel boasts 92 spacious bedrooms and suites, excellent bar, restaurant, conference, function and wedding facilities together with an extensive and popular leisure centre, spa and health club – which is operated by NRG. The facilities include an 18 metre pool, fully-equipped gym, weights room, aerobics, spinning, spa treatment rooms and an outdoor Canadian hot tub.

“According to Trending.ie – which monitors the important key performance indicators for the hotel industry nationwide – the Galway hotel market is in growth mode, with both occupancy and average room rate up on last year,” said Mr Curtin.

The hotel – originally called the Clybaun Hotel – opened in March 2002.

For further information, contact CBRE on 01 6185500.

 

Connacht Tribune

GMIT’s new Head of its Business School

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Dr George Onofrei, Head of the GMIT School of Business.

GMIT has announced the appointment of Dr George Onofrei as the new Head of its School of Business, commencing this month.

Prior to joining GMIT, Dr Onofrei was Senior Lecturer in Strategic Development in Letterkenny Institute of Technology.

He has over 15 years’ experience in academia as well as considerable industry practice within the automotive, food and retail sector. He brings experience and a proven track record of success in the development of new programmes at undergraduate and postgraduate level.

“I look forward to continuing the development of new programmes and creating new opportunities within the School of Business working with both staff and industry partners,” said Dr Onofrei.

He succeeds Professor Graham Heaslip who was appointed Head of the GMIT School of Engineering, following Gerard MacMichael’s retirement.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Corrib Oil’s national expansion

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Eugene Dalton...expansion.

Galway-headquartered Corrib Oil, one of Ireland’s leading service station and oil distribution providers has entered an agreement to acquire H2 Group.

While subject to approval by the competition regulator, this deal will see Corrib Oil acquire 13 high quality retail sites based across the south and east of Ireland, expanding the Corrib Retail footprint to 33 stores in total.

It means Corrib Oil will operate across 54 sites in 16 counties, employing over 1,000 people.

The new sites are located in Kerry; Kildare; Limerick; Tipperary; Dublin; Laois, Offaly and Cork.

Established in 1987, Corrib Oil employs 700 people across 14 counties in the West, Midlands and South.

The company, which was founded in Claremorris, is headquartered in Parkmore on the east side of Galway city. It operates two distinct divisions, Corrib Retail and Corrib Distribution.

Corrib Retail currently operates 20 convenience stores with forecourts; while Corrib Distribution, a leading distributor of heating oils and fuel, operates through 21 depots across 14 counties.

Having maintained a 22-year relationship with BWG Foods, all Corrib Retail convenience stores are branded as Spar, while all forecourts are branded Circle K or Texaco, with instore partners including Insomnia and Chopped.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

New course helps make sense of Artificial Intelligence and its uses

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Managers in Galway companies who would like to learn how they could put artificial intelligence (AI) to work for their organisations are being encouraged to sign up for a new course.

It comes as research found that 50% of organisations around the world have adopted AI in at least one function, while 79% of organisations are also exploring or piloting AI projects.

Of those companies who have implemented AI, 63% report revenue increases in the relevant business units.

The new Artificial Intelligence for Managers postgraduate certificate is being offered by NUI Galway to those who wish to get a better understanding of AI and its implications for business and enterprises.

Participants do not need to have any coding skills; this non-technical programme will focus instead on the strategic use of AI and how businesses and management can approach the practical implementation of AI technologies within their company. Candidates will learn about the practicalities necessary for successful AI adoption including data and skills requirements, ethics and legal issues. As such the programme would suit those in management positions in sectors like telecommunications, manufacturing, pharmaceutical, biomedical, finance, marketing, automotive and more.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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