The Radisson Blu Letterkenny has been acquired in an off-market deal by Lanthorn for the TMR Hotel Collection, the portfolio of four- and five-star hotels assembled by Austrian investor, Thomas Röggla. While the value of the transaction has not been disclosed, The Irish Times understands the 114-bedroom four-star venue was sold by its longstanding owners, the Byrne family, for a figure in excess of €16 million. The price paid by TMR equates to an average of €145,000 per key.
The Radisson Blu Letterkenny is TMR’s third acquisition in the last 14 months and follows on from its purchase of the Fleet Hotel in Temple Bar in Dublin and the Kilkenny Ormonde Hotel. AIB provided a multi-million-euro green loan for the purchase of the Radisson Blu, which is a B2-rated energy-efficient property. John Hughes and Paul Collins of CBRE acted for the vendors. Windward Management will manage the hotel on behalf of TMR Hotel Collection.
The TMR Hotel Collection is a portfolio of four and five-star hotels across Ireland, owned by Thomas Rӧggla, and established and managed by Lanthorn since 2014 under the direction of Eimear Fox. Employing over 2,200 staff, the hotel collection is one of Ireland’s largest privately owned hotel portfolios. The collection also includes: Aghadoe Heights Hotel in Killarney; Ballymascanlon Hotel & Golf Resort in Dundalk; Farnham Estate in Cavan; Dunboyne Castle Hotel in Meath; Harvey’s Point in Donegal, and Mount Wolseley Hotel in Carlow.
Eimear Fox, director of Lanthorn, said: “We are delighted to welcome Radisson Blu Letterkenny to the TMR Hotel Collection, our second Donegal hotel in the collection. We look forward to working with staff and guests and we wish the Byrne family the very best of luck in the future after a very successful 23 years in business.”
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Glenn Shanley of AIB said: “We are proud to have supported this sustainable investment by TMR Hotel Collection with a green loan. We remain committed to supporting the hospitality sector through innovative solutions and sustainable financing.”
AIB offers hotel operators and investors a range of solutions including term loans for acquisitions, capital expenditure and green purposes, seasonal working capital facilities, treasury products and cash management. In 2025, AIB’s new lending amounted to €14.7 billion, of which 43 per cent was green.
