Turks Head and Paramount Hotel on the Market
The Turks Head and Paramount Hotel on Dublin's Parliament Street are to be sold as a going concern, with an asking price in excess of €15 million.
CBRE is handling the sale of the hotel and bar, which comprises 66 bedrooms as well as a pub and restaurant.
The three-star hotel is to be sold after the resolution of a dispute between Nama and owner David Cullen, reports the Irish Times.
The hotel is well-located in a busy area in Dublin city centre, and Paul Collins of CBRE said the new owner may continue to trade under the Paramount brand or an international brand.
Dublin currently has a shortage of hotel rooms and occupancy rates reached their highest in years. Dalata recently announced its intention to open new hotels in Dublin.