Irish hotel sales hit €238m in Jan-Sept 2016, will reach record €700m by year end

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  • 37 hotel properties sold in 2016
  • €238m in sales so far
  • Spencer, Morgan and Beacon hotels in Dublin to be bought by John Malone for €150m
  • Riu in process of buying Gresham
  • DekaBank bought former Burlington Hotel
Luis and Carmen Riu

Luis and Carmen Riu

CBRE reports that hotel sales hit €238m so far in 2016 with 37 hotel properties sold.

The former Burlington Hotel was sold by Blackstone Group fpr €180m to Germany’s DekaBank. It is to be managed by the Dalata group.

Luis and Carmen Riu bought the Gresham for €92m last month. Xavier McAuliffe’s Lyrath Hotel in Co Kilkenny was sold earlier in the year for €20m.

Lisa Keogh, of CBRE Ireland’s hotel division, said the total spend on Irish hotels will match the record €710m in 2015, including the €150m sale of the Spencer, Morgan and Beacon hotels in Dublin to an investment group including John Malone, Paul Higgins and John Lally to be completed in Q3.  u

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