'Good health and happiness' - Donegal family sell hotel to TMR Hotel Collection

AIB has announced the acquisition of the 114-bedroom Radisson Blu Letterkenny by TMR Hotel Collection.

The Radisson Blu has been owned by Liscooley native Paul Byrne and family since 2003.

It is TMR’s third acquisition in the last 14 months, including the Fleet Hotel in Temple Bar, Dublin and the Kilkenny Ormonde Hotel. AIB provided a multi-million euro green loan for the transaction for the B2-rated energy-efficient property.

Mr Byrne posted: "After 23 years as our family-owned hotel, we are delighted to announce the sale of the Radisson Blu Hotel Letterkenny to the TMR Hotel Collection.

"We owe our deepest thanks to our many loyal customers, guests, and friends. Thank you for your trust, support, and unforgettable shared memories throughout the years.

"We are especially grateful to the incredible staff and in particular to those who have given long service, some since day one of the hotel operations! They have brought passion and excellence to the hotel every day and will continue to do so for many more years to come. The hotel will continue to proudly trade as the Radisson Blu Hotel Letterkenny, offering customers all the benefits of being members of the Radisson Hotel Group.

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"When my father and I developed Letterkenny’s first 4-star hotel in 2003 we hoped it would be an asset not just for our family business but also for Letterkenny and we trust that this has been the case.

"It now gives us great comfort to hand over the hotel to the prestigious and highly respected TMR Hotel Collection who will ensure that it continues to thrive and prosper as part of their large network of 4 and 5-star hotels throughout Ireland. We are grateful to Clark Hill Law, Crowe Ireland and CBRE Ireland for guiding us through this process. I would also like to thank Radisson Hotel Group and Joep Peeters in particular for all their support over the years. On behalf of all the family we wish everyone connected with the hotel continued good health and happiness in the future."

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.

They specialise in significantly investing in repositioning these purchased properties. The hotel collection is one of Ireland’s largest privately owned hotel portfolios. These hotels employ over 2,200 staff. Windward Management will manage the hotel on behalf of TMR Hotel Collection.

AIB continues to support the hotels sector in communities across the country. With dedicated sector-focussed teams, AIB offers hotel customers a range of solutions including term loans for acquisition/capex /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% was green.

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. Letterkenny is the largest town in Donegal and a major hub for business in the area. We are delighted to have a presence in the town.

“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. The purchase reflects Lanthorn’s long-term approach to real estate—investing with purpose in assets that deliver enduring value. We are delighted that Windward Management will also manage this latest acquisition on our behalf and are very excited to be part of the next chapter of Radisson Blu Letterkenny”.

Glenn Shanley, AIB said: “AIB is proud to have supported this sustainable investment by TMR Hotel Collection managed by Lanthorn in the heart of Letterkenny with a green loan. Tourism is a key economic enabler in communities across Ireland, and the growth of this hotel collection committed to four and five-star properties is one which will benefit visitors from Ireland, abroad, and the areas in which they’re located. We remain committed to supporting the hospitality sector through innovative solutions and sustainable financing.”