Goldman Sachs Lines Up Potential Sale Of Tifco Hotel Group
Goldman Sachs is reportedly mulling over the sale of Ireland's second-largest hotel company, Tifco Hotel Group.
Tifco, which was co-founded by DID Electrical owner Gerry Houlihan and businessman Aidan Crowe, currently operates 26 hotels around the country, equating to some 2,600 rooms, reports The Sunday Times.
Sources close to the report stated that the 'group could appeal to an international hotel company or a private equity buyer'.
"The sources said it was difficult to value Tifco, however, because its portfolio was a mix of wholly owned properties and venues that were run by Tifco on management contracts. The group took over the Travelodge franchise in Ireland last year, adding 12 hotels and 901 rooms," the report reads.
In late 2015, Tifco snapped up the 120-bed Hilton hotel in Kilmainham (pictured) in Dublin, and the 63-bedroom Parliament hotel, also in the capital.