RNS Number:3206S
Gresham Hotel Group Plc
20 November 2003


Gresham Hotel Group plc
20 November 2003



                         Gresham Hotel Group plc

       Announces completion of the Sale of the Killarney Ryan Hotel 
                  and Leisure Centre for Euro13.86 million


On 9 June 2003, Gresham Hotel Group plc announced that it had agreed to dispose
of its Ryan Branded Hotels, namely the Killarney Ryan Hotel and Leisure Centre
(Killarney Ryan), the Limerick Ryan Hotel and Conference Centre (Limerick Ryan)
and the Galway Ryan Hotel and Leisure Centre (Galway Ryan), for an aggregate
cash consideration of Euro35.75 million.

Gresham Hotel Group plc announces that, on Thursday 20 November 2003, it
completed the disposal of the Killarney Ryan Hotel and Leisure Centre.  This
disposal was completed in accordance with the terms announced on 9 June 2003,
for an aggregate cash consideration of Euro13.86 million.

Gresham Hotel Group plc has previously announced its intention to focus on four
star city centre hotels and to cluster its properties in appropriate locations.
The disposal of the Ryan Branded properties is consistent with this strategy and
the funds raised from the disposals will create increased flexibility to further
expand the Group in line with this strategy.





Patrick Coyle, Chief Executive, Gresham Hotel Group plc         +353 1 817 6209
Peter Coyne, AIB Corporate Finance Limited                      +353 1 667 0233
Fiona Gillespie, Communications Consultant                      +353 87 2502447


END




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

DISURRNROWRAUAA