Budget Etap hotel in Belfast sold for $9.9M

Belfast budget hotel the Etap has been sold in a deal worth 9.9 million.

The city center building on the Dublin Road - which houses the low-cost Etap hotel - was sold to CBRE Global Investors.

And the sale also includes a ground floor retail unit, which is currently occupied by the popular public house Filthy McNasty's next door.


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Etap will continue to run as normal its remaining let on a long-term 17-year lease.

The building was reportedly owned by Co Londonderry developer Seamus Gillan. The Etap is one of a number of budget hotel chains which have popped up in Belfast over the last few years, and is operated by Accor Group.

Accor also runs several other global hotel brands including Ibis—which has two outlets in Belfast.

The 146-bedroom Etap opened its doors in 2013.

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The sales included that of the 503-room Hilton São Paulo Morumbi, the real estate investment trust’s last international property.

After disbursing 50 years' worth of hotel assets, the company is focused on worldwide growth in the luxury sector.

Co-living brand The Collective has agreed a new £140m financing package from Deutsche Bank and GCP Asset Backed Income Fund.