Tetrarch May Raise Additional Capital For Hospitality Growth

By Publications Checkout
Tetrarch May Raise Additional Capital For Hospitality Growth

Tetrarch Capital, whose hotel assets include the Citywest Hotel, Mount Juliet, the Marker in the Dublin docklands and Powerscourt in Wicklow, is reported to be eyeing the raising of more capital to fuel the growth of its hospitality arm.

Speaking to the Sunday Independent, Damien Gaffney (profiled in the latest issue of Hospitality Ireland magazine), said Tetrarch has not ruled out raising an additional capital, in 2018 or thereafter.

"On the hospitality side, I think there's definitely a discussion that we've had about raising an additional capital - but I think we really wanted to get out of the ground on the development assets that we have," said Gaffney.

"The market is obviously very volatile at the moment, because of Brexit," he added.

"You don't see too many IPOs happening because everything seems to be at a standstill. At this moment in time, it's impossible to know… I think for us we're fairly open to it (an IPO).

"But we're well capitalised at the moment, we don't have any urgent need for fresh capital."