Tuesday July 14, 2020

Higher stakes for hotels

Prices are rising in the capital as O’Connell Street positions itself as a new centre for hotel and leisure activity

6th March, 2016
14
The Clarion Hotel in Sligo sold for €13.1 million earlier this year

The stakes were raised in the hotel property market last week by DIT’s decision to synchronise its sale of the Cathal Brugha catering college with the sale of the adjoining Gresham Hotel on O’Connell Street in Dublin.

Prospective Gresham buyers, who may have been bidding around €80 million, will now have to consider budgeting for over €100 million if they wish to add the cost of developing more than 250 bedrooms...

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