Wednesday February 19, 2020

U2-backed hotel group to sell for €100 million

Mullen and Clayton to make loss in deal

2nd October, 2016
Members of U2 will be among the investors stung by the loss-making sale of a Belgian hotel group Picture: Getty

A Belgian hotel group backed by more than 40 Irish investors, including U2 bassist Adam Clayton and drummer Larry Mullen, is to be sold by Jones Lang LaSalle for an expected €100 million.

Investors in the chain of nine hotels are expected to make a loss on their equity.

The sale should repay in full the €90 million debts of the hotel chain. The hotel chain is backed by investors sourced by Goodbody Stockbrokers and the...

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