Waterfoot Hotel In Derry-Londonderry Changes Hands
The Waterfoot Hotel in Derry-Londonderry has been acquired by a partnership led by the local hotelier Ciaran O'Neill. The new owners state a long-term investment programme for the property.
The hotel first opened in 1982. It comes under new management at the beginning of October.
The Buyer
O'Neill operates the Bishop's Gate Hotel inside the historic city walls. His career in Derry hospitality spans more than 35 years.
O'Neill said: "We are delighted to have acquired The Waterfoot and to add it to our growing portfolio of hotels. We are committed to a long-term investment programme that will enhance and modernise the hotel, while retaining its character and important place within the local community."
He continued: "The Waterfoot Hotel is exceptionally well located and represents a great opportunity to further strengthen the tourism and hospitality offering in the city. We see significant potential in the hotel and look forward to investing in its facilities, its people and the overall guest experience."
The release names the buyer as a partnership led by O'Neill, with no other party to the partnership and no purchase price stated.
The Management Team
Laura Davies takes over as general manager. The release states that Davies brings experience of the local hospitality market to the role.
Michael O'Neill joins as deputy general manager.
Davies said: "I'm really looking forward to leading the team at The Waterfoot and building on the hotel's strong reputation in the city. The hotel has a great foundation, and I'm excited about the opportunity to contribute to its future development. Our focus will be on delivering a great experience for guests, supporting our team and building on the qualities that have made The Waterfoot such an established part of Derry's hospitality offering."
The Market Read
Ownership of an established Derry-Londonderry hotel moves to an operator that trades in the city. The buyer's stated basis is the property's location and its place in the city's tourism offer. The incoming owner joins that to a modernisation programme and a named management team.
The 1982 opening date places the asset in the city's older independent stock. The release frames the next phase as modernisation and states the hotel's community role as a condition on that work.