Dalata To Offload Red Cow to Morans
Published on Nov 11 2014 10:18 AM in Hotel
Prominent Irish hotelier Tom Moran is in negotiations to acquire the Red Cow complex in Dublin, according to reports.
The move by Moran and his family is expected to be part of a wider deal that will see Dalata Hotel Group acquire the Moran & Bewley's hotel chain.
Dalata, the biggest hotel operator in Ireland, has confirmed that it is in "exclusive discussions" in relation to a potential deal to buy Morans.
"There can be no certainty at this time that a transaction will proceed and we will update shareholders in due course," a statement from Dalata said.
The Irish Times has reported that Morans would acquire the Red Cow for about €8 million from Dalata.
The complex, located in southwest Dublin, employs 140 staff and includes the four-star, 123-bedroom hotel, and the Red Cow Inn.
Dalata is said to have lodged a bid of just more than €460 million for The Moran hotel chain, which comprises of 10 hotels in Ireland and the UK.