Dalata approved to operate Dublin's former Burlington hotel

Ireland's Competition and Consumer Protection Commission has cleared Dalata's leasehold acquisition of the former Burlington hotel in Dublin, currently operating as a Doubletree by Hilton. The deal is slated to close in the coming weeks. 

The hotel was sold by private-equity group Blackstone to German asset manager DekaBank over the summer in a deal that was expected to reach an estimated €180 million. Blackstone bought the hotel in 2012 for €67 million and has reportedly spent spent another €20 million refurbishing it. The property reportedly attracted interest from the Abu Dhabi Investment Authority, Hyatt Hotels and Host Hotels & Resorts. 

The transaction consideration for Dalata is €2.5 million, subject to certain adjustments.The Doubletree will likely be re-branded as a Clayton.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

This acquisition brings 502 more rooms to Dalata's 6,600-room portfolio. It also further highlights Dalata's role as the consolidator in what is still a highly fragmented Dublin hotel market.

"This acquisition increases Dalata exposure to Dublin, adds an additional 7.5 percent to group EBITDA in 2017 and represents a new avenue of growth for the group with a financial partner looking to acquire assets that can be leased to a strong PLC covenant," Davy Stockbrokers said.

Suggested Articles

M3 has partnered with Avero, a restaurant revenue-management software company serving the food-and-beverage industry.

Wyndham is relaxing requirements for Wyndham Rewards members to achieve status for the rest of 2020.

This roundup features details on 15 new properties operating in the United States.