PREM Group to Invest Over €1.6 Million in Hotel Refurbishment
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.
Following the purchase of the property, PREM Group plans to invest 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, which has now taken its owned property portfolio in Ireland to six. The hotel group also owns 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 is also planning on carrying out an extensive €600,000 refurbishment to the ground floor of the Viking Hotel in Waterford, another property it currently operates.
CEO of PREM Group, Jim Murphy, said: “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 has 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.
