Dublin, Ireland Ibis hotel hits market for 160 percent more than acquired for

(The Ibis Red Cow Dublin)

A UK consortium that acquired the Ibis Hotel opposite the Red Cow Luas interchange in west Dublin two years ago for just over €5 million, is now turning around and trying to sell it for upwards of €13 million.

Cannock Ltd owns the 150-room hotel, which is operated under a franchise agreement by Accor Hotels, and is marketing it through selling agent Christie & Co. The property is being offered inclusive of an adjoining site of 0.81 of an acre zoned for residential use.

Christie & Co's Dave Murray told The Irish Times that the hotel presented "a rare opportunity for investors and developers to acquire a highly profitable, limited-service hotel along with an adjoining development site beside Ireland’s busiest motorway junction—the M50/N7 intersection."

The 17-year old hotel has two meeting rooms and an open-plan, ground-floor space, which includes a bar, lounge and dining areas with space for approximately 100 people. There is also a parking lot with 180 spaces.