Gresham Hotel's Value Rises to €48 Million
Published on Mar 3 2015 4:49 PM in Hotel
A major resurgence in business for the Gresham Hotel has seen the valuation of the property soar by almost €10 million to €48 million in 2013.
The Irish Independent reports that Precinct Investments, the company behind the hotel, released figures from its accounts which wrote back €9.8m of a €22.7m impairment it recognised in 2011.
The company has loans with NAMA, which is likely to put the iconic hotel on Dublin's O'Connell Street up for sale some time in the near future.
Room occupancy rates are up all over Ireland but particularly in the capital, which hit 78 per cent in 2014.