Dublin's Central Hotel has been put on the market, with estate agency Cushman & Wakefield seeking offers in the region of €40 million for the 130-year-old property.
According to The Irish Times, An Bord Pleanála has already given the green light for a number of structural modifications to the premises, including the addition of a further 42 bedrooms, which would bring the hotel's total bedroom stock up to 112. Permission has also been approved to expand the venue's first floor Liberty bar as well as to construct a central courtyard and install a basement restaurant.
Profit And Occupancy
Located on the capital's Exchequer Street, the three-star Central Hotel has recorded a €1.7 million profit in the past year, with €660,000 in additional revenues coming from five retail outlets on the property's ground floor. Meanwhile, the hotel has reportedly had an 88% occupancy rate in the past twelve months with an average overnight charge of €125.
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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.