Ireland’s hotel market is anticipating a record €1.2bn worth of hotel transactions in 2024 according to CRBE, surpassing the €350m in sales seen in 2023, which was below the annual average of €500m.
Major deals such as Archer Hotel Capital acquiring the Shelbourne Hotel and Lifestyle Hospitality Capital Group buying the Dean hotels in Dublin, Galway, and Cork have contributed to the current sales exceeding €550m.
Ongoing hotel market activity includes:
- Lifestyle Hospitality Capital Group, backed by Elliott Investment Management have paid €350m for part ownership of eight Paddy McKillen hotels, Dean hotels in Dublin, Galway and Cork, Clarence in Dublin, Devlin in Ranelagh and two planned hotels in England.
- Azora purchased the Jacobs Inn, near Connolly Station, in Dublin for €30m.
- The G in Galway is sale agreed for €26m f
- The Morrison in Dublin is guiding €100m from Zetland Capital, who paid Russian billionaire Yelena Baturina €65m for it in 2021.
- Mount Juliet golf resort in Kilkenny guiding €45m from Tetrarch, who paid €15m for it in 2014.
- The Slieve Russell Hotel in Cavan is guiding €35m.
Irish property group Tetrarch is winding down its hotel portfolio amid investor interest driven by strong hotel trading performances and the under-supply of accommodations in Europe.
The Scally family, the owners of Hayfield Manor hotels in Munster, are believed to be front runners to buy the Radisson Blu St Helen’s, in south Dublin.
