Tetrarch Plans €100m Investment In New Hospitality Arm
Irish Property investment firm Tetrarch Capital plans to invest €100m in the hospitality, leisure and accommodation market over the next three years.
Tetrarch, formerly known as Brehon Capital, which owns the likes of the Mount Juliet, Powerscourt, CityWest and Marker hotels, will invest €25 million in a 178-unit aparthotel on a site close to Trinity College in Dublin.
The Irish Times reports that the company has created a new business arm, Tetrarch Hospitality, to manage its hospitality, leisure and accommodation interests, with Damien Gaffney hired to the role of managing director of the new division, who will also take on the role of chief operating officer of the Tetrarch Capital group.
"We've made a number of excellent additions to our hospitality and leisure portfolio this year and as we approach 2016 we're very positive about the opportunity to undertake further compelling acquisitions," said Gaffney.
Gaffney revealed the group experienced double digit revenue growth in all its properties this year.