Irish Hotel Sales Market Booming
Published on Dec 11 2014 10:04 AM in Hotel
This year's value of hotel sales could reach treble what it was last year.
Already this year 50 hotels have sold with a total value of €450 million; sales have been agreed for 10 others that together should generate about €150 million. Furthermore, when loan sales of around €200 million are included, the sum total could be €800 million. The total value for 2013 was €200 million.
If Pat McCann's Dalata REIT were to purchase the Bewley Hotel chain before the end of the year, then the total figure for Irish hotels could go beyond the billion-euro mark. This estimation is predicated on the six Irish hotels in the Bewleys/Moran hotel being valued at more than €200 million. Dalata has offered over €460 million for the chain of ten Bewleys hotels which includes four in the UK.