The owners of the Roe Park hotel have agreed to sell the Co Derry golf resort to the Galgorm Collection, The Irish News understands.
The 118-bed four-star venue near Limavady was placed on the market in late June, with offers being sought in excess of £14 million.
It’s believed three hospitality groups were involved in the bidding process.
It’s unclear whether the agreed price met the asking amount.
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While the deal remains subject to final legal and financial processes, The Irish News can reveal that the Galgorm group secured the winning bid.
Subject to final paperwork, it will make the Roe Park the fourth hotel in the Galgorm Collection.
Alongside the flagship Galgorm Resort outside Ballymena, the hospitality group’s portfolio includes The Rabbit Hotel in Templepatrick and The Old Inn, Crawfordsburn.
The group also owns Belfast restaurants Parisien and Fratelli.
Located just outside Limavady, Roe Park has been independently owned since it opened in 1995.
The extensive site includes an 18-hole parkland golf course, a driving range, golf academy, spa, two restaurants, bars and a health club.
The Roe Park Resort also has three self-catering properties with plans submitted for the development of a further 11 detached self-catering units.
Ownership of the hotel business was shared between Charles Conn, Kevin McKeever and Alan Wilton.
Around £3m has been spent on upgrading the hotel over the past three years, including upgrades to wedding and events facilities, bedrooms, golf course and developing a third self-catering property – the Gate Lodge.
The latest accounts for the hotel business show it recorded a pre-tax profit of £943,000 in 2022 on a turnover of £7.4m.
According to Companies House, four loans tied to Roe Park Holdings were satisfied on October 21, which is indicative of the business preparing to change hands.
Galgorm’s acquisition of the hotel and its 5,154 metre parkland PGA standard golf course, comes one year before The Open Championship returns to Portrush, just 22 miles from the Co Derry resort.
The Irish News revealed last month that the Co Antrim hospitality group is also planning new championship links golf course in the foothills of the Glens of Antrim.
It’s understood negotiations are ongoing with around 30 landowners in Glenariffe, which lies between Cushendall and Carnlough.
Subject to agreements, the hotel group is understood to be targeting an opening to tie in with the return of the Ryder Cup to Ireland in 2027.
The Co Antrim hospitality group is also buying the Galgorm Castle Golf Club, close to its flagship hotel resort in Ballymena.
The castle estate, which dates back to the early 17th century, was developed into a golf course by the Brooke family during the 1980s.
It has hosted The Irish Open and the ISPS Handa World Invitational in recent years.