Dublin's Four Seasons Hotel for sale after £1.7m loss
In a move that will “send shockwaves through the industry”, the luxurious Four Seasons Hotel in Ballsbridge, Dublin, is up for sale after posting losses of £1.7m.
The icon of the Republic’s Celtic Tiger era attracted well-heeled and celebrity guests, including Eminem and Mariah Carey, down the years.
Nightly room rates at the five-star hotel range from £170 for a basic room to £640 for a junior suite.
But the hotel has been badly hit by the recession and the decline in the number of American business guests.
Paul Gallagher of the Irish Hotels Federation said the sale of the Four Seasons would send shockwaves through the industry and “raise distress”.
Despite implementing a cost-cutting plan this year to save £1.6m, the hotel lost the same amount in profits last year.
Investors last night confirmed that they had appointed property consultant CBRE to put the hotel on the market.
Hotelier Francis Brennan told RTE news that the hotel was up for sale.
However, it is understood that the Four Seasons hotel chain will continue to run the hotel as part of its long-term management contract.
Officials from the hotel could not be reached for comment last night.