The InterContinental Dublin in Ballsbridge, Dublin has been snapped up by a group backed by US billionaire John Malone for an undisclosed fee.
The hotel operated as the Four Seasons from when it opened in 2001 until it reached a franchise agreement with the InterContinental Hotel Group early this year.
The property has been on the market for an estimated €50 million, believed to be the price paid by the consortium, comprised of developers Malone and Paul Higgins, as well as hospitality group Lalco.
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The hotel was put on the market by London & Regional Property, who acquired the asset four years ago for €15 million. It was rebranded in January 2015 as the five-star InterContinental Dublin.
Liberty Global chair and telecommunications magnate Malone has previously been active in the Irish hotel market, purchasing five marquee properties, including The Westin, bought last year for €65 million.
The new owners are expected to invest €5 million in the property. The deal should be completed within the next month, subject to approval by the Competition and Consumer Protection Commission.