Savills has been appointed, on behalf of the receivers KPMG, to sell two 4-star hotels in Dublin.
Savills has been appointed, on behalf of the receivers KPMG, to sell two 4-star hotels in Dublin.
The Clarion Hotel IFSC and Clarion Hotel Dublin Airport are being offered for sale by private treaty either individually at the respective guide prices of €30 mln and €10 mln, or together as one lot for a guide price of €40 mln.
The Clarion Hotel IFSC is a four-star, city centre hotel overlooking the River Liffey in the Docklands area of Dublin. The modern hotel comprises 165 bedrooms, lounge, bar, restaurant and full leisure club with 1,000 members. The property includes 10 conference rooms of various sizes and events facilities which can cater for up to 150 people.
Savils said the hotel is well placed to capture both the corporate and leisure trade, with a strong mix of both domestic and international guests due to its proximity to Convention Centre Dublin, The O2 Arena, Bord Gais Theatre, Aviva Stadium and sports stadium Croke Park.
The hotel’s average room rate is more than €100 per night, with 2012 occupancy levels at 80%.
The Clarion Hotel Dublin Airport is the city’s original airport hotel located on a prominent site at the entrance to the Airport campus. The four-star hotel includes 247 bedrooms, lounge, bar and restaurant along with superb conference and banqueting facilities. The property occupancy levels of around 75% in 2012 and average room rates at approximately €65 per night.
Tom Barrett of Savills Hotels and Leisure team in Ireland: 'The joint sale of the Clarion Hotel IFSC and Clarion Hotel Dublin Airport is the most exciting opportunity to come to the Irish hotels sector so far this year. Comprising a total 412 four-star bedrooms it represents the chance for an investor to gain a significant foothold in the Dublin hotel market in two prime locations. Both hotels are trading well and are highly profitable.'
