Beneco Privatstiftung, a Vienna-based company controlled by Russian businesswoman Elena Baturina, has acquired one of Dublin's best-known hotels, the Morrison Hotel for a price of EUR 22 mln.
Beneco Privatstiftung, a Vienna-based company controlled by Russian businesswoman Elena Baturina, has acquired one of Dublin's best-known hotels, the Morrison Hotel for a price of EUR 22 mln.
The deal was brokered by CBRE Hotels EMEA on behalf of receiver Martin Ferris.
The modern four-star property is located on the northern banks of the Liffey facing Temple Bar. It was purpose-built, opened in 1999 and comprises 138 bedrooms and suites as well as a Café Bar, the Morrison Bar and Halo Restaurant. The hotel also boasts extensive banqueting, conference and meeting facilities, a fitness suite, art gallery and a courtyard garden. The asset was sold unbranded which allows the new owner to trade under the existing name or re-launch the hotel with a top international brand.
'I would also like to point out that "Morrison" more likely is going to be a pilot project in the sphere of commercial real estate for my investments in Ireland,' said Baturina. At the moment the chain of hotels owned by Baturina includes hotels in Russia, Austria and the Czech Republic.
Paul Collins of CBRE Hotels EMEA added: 'The Dublin hotel market is firmly in recovery mode and prime hotels are poised to take advantage of this over the next number of years.'
Beneco Privatstiftung was advised by the Austrian-based firm MRP Hotel Development.
