Belfast Telegraph

UK Website Of The Year

Offers made for leading Dublin hotels

By Peter Flanagan

Published 02/06/2016

Bids have been submitted for two landmark Dublin hotels
Bids have been submitted for two landmark Dublin hotels

Bids have been submitted for the sale of two of Dublin's most popular hotels.

Negotiations for O'Connell Street's Gresham Hotel and the former Burlington - both familiar to Northern Ireland visitors - are at an advanced stage.

Four bidders - US firms Cerberus Capital Management, Apollo Capital Management, a joint bid by Tiffco and Goldman Sachs, as well as Spanish giant Riu Hotels & Resorts - are offering more than €85m (£66m) for the Gresham.

The former Burlington Hotel in Dublin 4, meanwhile - now renamed the Doubletree by Hilton Burlington Road - is on the block for close to €180m (£139m).

First-round bids for that hotel were due last week.

At those rates, the two hotels are likely to sell for between €320,000 (£248,000) and €380,000 (£294,000) per room.

That figure is far above what the market has seen so far in the current cycle, and would push hotel prices above replacement value - a crucial benchmark of the health of the market.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More


From Belfast Telegraph