Ringline Investments is awaiting an appeal decision on an application to develop a new hotel on a derelict and vacant site on the corner of Capel Street and Little Strand Street in Dublin 1.
Ringline Invesments Managing Director Statements
Ringline Investments managing director John Kelleher stated, "The development of a new hotel in the Capel Street area would give a much-needed economic boost to the area. We are confident that if successful in our planning appeal, we can make a valuable contribution to the district and wider community."
Kelleher continued, "There is a short window of opportunity now to gear up and be ready for 2023/2024…We know that tourism will take some time to rebound, but there is no point in waiting for it to return before responding. Given the lag time between planning and site completion, developments will have to get underway this year to ensure Dublin is ready to meet the demands of the tourism market by 2024."
In Discussions With Accor
Ringline Investments stated that hotel group Accor "is in discussions with Ringline to develop one of its lifestyle brands on the site".
Accor Northern Europe VP Development Statement
Philip Lassman, VP Development, Accor Northern Europe, stated, "Accor's interest in the Dublin market preceded the onset of COVID-19, and we are particularly interested in having a presence in the north city, which is where we see the greatest opportunities. The potential of the Dublin 1 area is apparent. But it is an area that would clearly benefit from more investment, support and some creative thinking so that empty and derelict sites can be reimagined and repurposed in a way that can support local economic prosperity."
Additional Ringline Investments Managing Director Statements
Kelleher continued, "This area is evolving all of the time, but Capel Street needs more investment for it to really fulfil its potential. It is already starting to transform with a mix of independent small businesses, social enterprise, nightlife, food and fashion. In our view, the pedestrianisation of the street and the addition of an internationally recognised hotel brand will lend themselves to this positive transformation."
Kelleher added, "Decisions that will position Dublin as a leading destination for both business and leisure travel should not be predicated on the past 14 months. Historic data and trends (during normal trading times) should be the barometer for future decision-making, and it’s clear that Dublin can benefit from a mix of developments that can satisfy both residential and tourism demand."
Additional Accor Northern Europe VP Development Statement
Lassman added, "Planning, vision and investment will enable Dublin to reassert its position as a leading European destination, and while the recovery may be slow, the demand indicators for hotel rooms for both business and leisure travellers are high. There was a shortage of hotels in Dublin before the pandemic and there is an opportunity now to correct that imbalance, before the tourists return in their droves, and we believe that they will."
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