Dalata recieves approval to acquire Gibson Hotel in Dublin
March 10
12:10
2016
Dalata has been given approval from the Competition and Consumer Protection Commission to acquire the leasehold interest of four hotels in a deal valued at €40 million. The hotels are the Gibson Hotel in Dublin, the Clarion Hotel in Cork, the Clarion Hotel in Limerick and the Croydon Park Hotel in south London.
The leasehold interest comprises of operating leases with an average term of 18 years outstanding.
Dalata said it plans to invest €14 million over the next two years in refurbishing the four properties, and will rebrand them all as Clayton hotels. As part of the deal, the group will also take over the management of the Clarion Liffey Valley Hotel in Dublin, under a short term management contract.
Having gained approval, the acquisition, which was announced in late January, is expected to close promptly, Dalata said.
