Hotel at Red Cow for Sale for €13m TWO years after being sold for €5m

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  • Hotel ibis for sale for €13m
  • At junction 9 of the M50 opposite the Red Cow Luas interchange
ip Hotel ibis Dublin 1

Hotel Ibis Dublin

The Hotel ibis at junction 9 of the M50 opposite the Red Cow Luas interchange is for sale for €13m for the hotel itself, and €500,000 for an adjoining 0.81 acre site..

The limited service 150-bedroom,hotel has two meeting rooms and an open-plan, ground-floor space which features the hotel reception, bar, lounge and dining areas that can cater for approximately 100 people. Tthe existing franchise agreement with Accor Hotels uremains in place and.guest bedrooms have all been upgraded.

Hetherly Capital Partners purchased it on a sale and franchise back deal for  €5m in in August 2015. The hotel has been brought back to the market by specialist business property adviser Christie & Co.

Lot 1 has an asking price of €13.5m and represents the entire and comprises the hotel and its adjoining 0.81 acre site, which is zoned for residential; Lot 2 consist of the Hotel ibis and carries an asking price of €13m; and Lot 3 consists of the 0.81 acre site which has an asking price of €500,000.

Dave Murray, director at Christie & Co Ireland, said the hotel had seen a “significant improvement in trade in the past 24 months with further potential to drive occupancy and Average Room Rate. Highlighting the hotel’s attractiveness, Murray noted how Dublin’s hotel market had enjoyed the highest growth in Europe for two consecutive years with RevPAR growth in 2015 well in excess of 20pc and similar growth forecast for 2016 according to STR.

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