Tetrarch Capital invests in Dublin hotels; launches new management branch

Maybe Ireland's capital city will get the new hotel rooms it needs after all: Dublin-based property investment company Tetrarch Capital is reportedly looking to develop two new hotels in Dublin's city center.

According to News Talk, the company will invest €25 million in a new 178-room hotel close to Trinity College, and is also seeking planning permission to build a 160-room hotel at Sackville Place.

Tetrarch is also launching a new entity, Tetrarch Hospitality, to manage its hotel and leisure assets, including Mount Juliet in Kilkenny, Mount Wolseley in Carlow and the CityWest and Dawson Hotels in Dublin. 

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Speaking to The Irish Times, Tetrarch’s chief executive Michael McElligott said that the company was "in the process of acquiring a number of other sites," with two properties under consideration in Dublin, and possible oppertunities in Belfast, Cork and Galway.

The company says it plans to invest an additional €100 million in the sector over the coming three years.

Earlier this year, Noel Creedon, head of Cork-based specialist investment firm iNua, said his firm will not buy any properties in the capital despite building up a €20 million fund for hotel acquisitions earlier this year.

 

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