THE new owner of the Slieve Russell Hotel said the deal “all ran smoothly” after he acquired the Ballyconnell property which once was one of the most prized possession owned by Seán Quinn.
Melbourne-based construction company, The Brady Group, owned by Cavan-man Tom Brady, recently completed the acquisition of the hotel, for what’s believed to be just shy of €35 million.
The Sunday Times reported in September that The Brady Group had placed a bid for the Slieve Russell Hotel. Other names linked to the hotel included Limerick billionaire JP McManus.
Tom Brady, brother of Cavan’s first All-Star Ollie Brady, emigrated to Australia in the 1970s. His hugely successful construction firm is now one of the largest private developers in Melbourne.
“It’s [Slieve Russell Hotel] a great property, I knew it for many years coming here playing golf, I stayed here occasionally,” Mr Brady confirmed to the Anglo Celt newspaper.
“It all ran smoothly. The process took a few weeks and then we secured a deal last Friday.”
The Cavan resort, which was opened in 1990 by former billionaire Seán Quinn, was put on the market in April on behalf of the liquidators of the Irish Bank Resolution Corporation.
The new owner confirmed that the Slieve Russell Hotel will retain its original name.
“It’s a beautiful property, it’s local. A great golf course and a great hotel. The local angle was part of the decision and the quality of the asset,” the Cavan man said.
“It will be run by a local team here. Tony Walker is the General Manager and Orla Murphy is the HR Manager and both are doing an excellent job. The staff are really excellent.”
The hotel has 224 bedrooms, banqueting and leisure facilities, and is situated on 300 acres of land. It includes a PGA Championship golf course, a nine-hole par 3 course, and a driving range.
An estimated €7.5 million has been invested in the Slieve Russell Hotel since 2019 and the new owner feels that there is the “potential to expand” the golf course.
“The golf course has got PGA National status so there is potential to expand that, it is the only golf course in Ireland which has that PGA National status, a lot of people don’t know that,” he said.
“There is only one per country and only eight or nine of those in the world so the golf course is outstanding.”
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