PREM Group Complete Acquisition Of The Aspect Hotel In Kilkenny
International hotel management company PREM Group has secured the purchase of the well-known Aspect Hotel in Kilkenny. The Irish owned hotel management and hospitality group has strengthened its growing property portfolio by acquiring the property which it has been leasing and running since it opened in 2006. The 80-bedroom hotel is located just five minutes’ drive from Kilkenny city centre on the N10 Ring Road which surrounds the city, making it a popular location for meetings, corporate stays and leisure breaks. The hotel currently has four conference and meeting rooms, bar and restaurant along with 80 guest bedrooms. Following the purchase of the property, PREM Group plan on investing more than €1 million into an extensive refurbishment of the Aspect Hotel. The refurbishments, which will be done under the guidance of celebrity architect Hugh Wallace, will see upgrades made to the lobby, bar, restaurant, meeting rooms and some of the bedrooms. This is the latest in a long line of investments by PREM Group, who have now taken their owned property portfolio in Ireland to six. The hotel group also own the Osprey Hotel in Naas, Cahernane House Hotel in Killarney, Tulfarris Hotel in Blessington, and the Premier Suites properties in Ballsbridge and Leeson Street. PREM Group currently operates 50 hotels across Ireland, the UK and mainland Europe. In addition to this, PREM Group are also planning on carrying out an extensive €600,000 refurbishment to the ground floor of the Viking Hotel in Waterford, another property which they currently operate. Speaking after the acquisition of the Aspect Hotel in Kilkenny, CEO of PREM Group, Jim Murphy, said; “We are delighted to have completed the purchase of the Aspect Hotel because we see huge potential in this property. Kilkenny is an ideal location for corporate clients as it acts as a link on the eastern corridor between Cork and Dublin, and this property is in a perfect location that will be accessible to those travelling for meetings or for a leisurely break in this beautiful medieval city.”
“We have invested significant amounts in various hotels around Ireland of late, and we are enjoying some immediate success on the back of those renovations. I expect that the Aspect Hotel will be no different as we are looking to create a really unique finish that will appeal to all types of guests.” Over the last 18 months PREM Group have invested heavily in the Osprey Hotel in Naas, refurbishing the gym and also opening a new restaurant along with a luxury spa, both of which were also designed by celebrity architect Hugh Wallace of Douglas Wallace Architects. A €6.5 million renovation of Cahernane House Hotel in Killarney was also completed earlier this year.