Dalata acquires hotel development site for €8m
Irish hotel group Dalata has agrees a deal for a hotel development site on Kevin Street in Dublin City Centre for €8.1m.
The site is located at the junction of New Street South and Kevin Street upper, close to Stephen’s Green.
Panning permission was granted last November by an Bord Pleanála for a hotel development on the site. The planning application includes a basement car park of 23 spaces, a reception area, a café and bar and restaurant, as well as 137 bedrooms over five rooms.
Dalata has said that it intends to begin construction of a Maldron Hotel in October with the ambition of having the hotel operational by mid 2018.
When the hotel is finished, the group will have invested about €26m in the project. About 70 new jobs will be created when the hotel opens.
“The purchase of this property is a very exciting opportunity for the company and is consistent with our stated strategy of securing development sites for further new hotels in Dublin”, commented Dermot Crowley, Dalata’s deputy CEO Business Development and Finance.
“The Dublin hotel market continues to perform very strongly in 2016, and we look forward to this Maldron Hotel contributing significantly to the company performance in the future,” he added.
