Irish-led hotel investment and management company Amaris Hospitality has announced plans to expand in Ireland in the wake of its €678.5 million acquisition by European property firm LRC Group last week.
Based in Cyprus and run by Israeli investor Yehuda Barashi, LRC purchased Amaris and 23 hotels from US private equity firm Lone Star, and has appointed Irish hotelier John Brennan as non-executive chairman of the Amaris business, reports The Irish Times.
Meanwhile, Peter Stack has been appointed as the business's new managing director. Commenting on plans for Amaris in Ireland, Stack said, "We are very interested in expanding our footprint further in Ireland and are actively exploring a number of exciting opportunities."
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© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.