Guide Price Of Dublin's Morrison Hotel Reportedly Reduced By 15%
It is understood that commercial real estate services firm CBRE is assessing interest in Dublin's Morrison Hotel from prospective buyers at a reduced guide price.
The Morrison hit the market via CBRE in March of 2020 with a guide price of €80 million, and, as reported by The Irish Times, it is understood that the guide price has now been reduced by 15% to €68 million.
The Morrison is owned by Russian businesswoman Yelena Baturina, who purchased the 145-bedroom hotel from Nama for €22 million in 2012, and she is believed to have spent as much as €10 million on a refurbishment of the property that was overseen by NODA Architects between 2012 and 2013.
The Morrison trades under Hilton's DoubleTree brand, and it is being sold subject to a franchise, offering operational flexibility for a new owner.
In addition to its 145 bedrooms, The Morrison includes bar and restaurant facilities, seven meeting and events facilities that can accommodate up to 240 people, and a fitness centre.
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