The Claregalway Hotel has been purchased out of receivership for €1.5 million by Managing Director Paul Gill and wife Nora, who have run the hotel for the past nine years.
Speaking following the announcement, Mr Gill said he believes that, with the right marketing approach, Galway’s tourism industry has a very bright future ahead and that this confidence was a key factor when he and his wife decided to purchase the three-star 48 bedroom hotel, which employs 81 staff.
With the food and beverage part of the business accounting for 70 per cent of its revenues, the hotel is currently expanding its food product and gastro dining experience as part of a refurbishing plan including a €100,000 investment in extending its kitchen. Other key business areas for the hotel include weddings and family events, business functions and the leisure market.
According to Mr Gill, an important focus for the hotel following the buyout is targeting international tours and growing European markets such as France, Germany and Italy.
He also said that the Claregalway Hotel has achieved marginal increases in business levels each year for the last couple of years following a significant decline since the peak in 2007.
And The Gathering has so far provided a lift for the hotel this year, with tourism across Galway seeing an enormous boost with the initiative “dove-tailing excellently” with a busy calendar of local events throughout the year including the Galway Arts Festival, the Galway Sea Festival and the upcoming Galway Races.
Galway hoteliers are looking forward to this year’s Galway Races and are seeing a significant pick-up in business and advance bookings compared with last year, according to Mr Gill.