Large Investment into €60m St. Stephen's Green Hotel
A number of well-known Irish investors have poured over €7 million into the proposed €60 million aparthotel to be built in Dublin 2.
The hotel, described as budget hotel targeted at short-stay business travellers to the city in the planning application, was granted approval earlier this year. It will be built behind the St Stephen's Green shopping centre.
A number of Irish investors have contributed to the Marlin Apartments project, which is headed by Irish chief executive John Corless, the Irish Independent reports.
A UK company, Marlin provides high-end serviced apartments to business and leisure travellers in London. Originally it planned to build a 195-unit hotel in the city, although that number is believed to be increasing as the firm acquired additional space surrounding the site.
Among the Irish investors are former ESB chief John Shine and former South Midland Construction MD Phelim Moylan.
The planning application said it would help ameliorate the hotel room shortage in the capital, and "ensure the provision of high quality hotel accommodation to support the continued promotion of tourism".