The Waterfoot Hotel in Derry-Londonderry has changed hands. A partnership led by the local hotelier Ciaran O’Neill is the buyer, as the announcement states it. The announcement names no price. New management takes over at the start of October.
The hotel opened in 1982 and trades at the Caw Roundabout on the Waterside bank of the River Foyle. The Irish News reports it as a four-star property with 44 bedrooms. The hotel’s own site describes it as one of Derry’s pioneering boutique hotels.
The buyer, as the announcement states it
The acquisition is announced by a partnership led by Ciaran O’Neill, the Derry hotelier who operates the Bishop’s Gate Hotel inside the city’s historic walls. The announcement names no other partner in the group.
O’Neill’s management company, LCMA Hotels, has operated the Bishop’s Gate for Derry’s Inner City Trust since that hotel opened in 2016. He continues to lead the Waterfoot operating business as managing director, The Irish News reports.
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 added: “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 announcement gives no figure for the programme, no start date and no completion date. It states that further details of the investment programme and the enhancements will be announced in due course.
Managers drawn from Bishop’s Gate
The new management team is led by general manager Laura Davies. 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 to build on, and I’m excited about the opportunity to contribute to its future development.” She said the focus will be on the guest experience, on supporting the team and on the qualities that have made the Waterfoot an established part of Derry’s hospitality offering.
A second account of who bought the hotel
The Irish News reports the buyer as the Martin Property Group, led by brothers Paul, Gary and Mike Martin, and says the group appointed O’Neill to oversee the new hotel project. That report also puts the sum as undisclosed.
The Irish News names the seller as the Co Armagh entrepreneur Sam Rusk and his family, who are understood to have bought the Waterside venue from Garvan O’Doherty about eight years ago. Companies House records list Samuel Rusk as a director of Crossroads Properties Limited, company number NI036256.
The two accounts are the parties’ own wording and are carried side by side.
What the announcement does not disclose
The announcement gives no purchase price, no investment figure and no timetable. It names no other member of the acquiring partnership. It does not describe the works the modernisation programme will cover, the number of rooms that will be refurbished, or whether the room count will change.
The Waterfoot trades through the change of control. No closure, rebrand or operator change is stated.