Ireland's Barnacles hostels have been sold for over €12 million.
Located in Dublin's Temple Bar area and Galway, the two Barnacles hostels were put on the market by private treaty via estate agency CBRE in June and were originally valued at approximately €11 million.
Purchasers And Prices
According to The Irish Times, the 171-bed Dublin Barnacles hostel has been purchased by real-estate investment and development firm Mm Capital for about €8 million while the 112-bed Galway hostel was bought for approximately €4 million by a company associated with the Burkeway Group and will be rebranded as Snoozles.
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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.