Irish and Spanish-based hotels, resorts, and property group FBD Hotels and Resorts (FBDH&R) has reached an agreement to acquire the Grand Hotel in Malahide, Co Dublin, for a sum of approximately €55 million.
The Grand Hotel, which employs over 200 people, dates back to 1835 and has been in the ownership of the seller, the Ryan family, since 1974.
It is a popular destination, conference, and wedding venue.
The agreement, subject to approval by the Competition and Consumer Protection Commission (CCPC), will see the Grand Hotel become the seventh property in FBDH&R’s luxury four-star and four-star superior hotels and resorts portfolio.
FBDH&R currently owns and operates four hotels in Ireland—Faithlegg Hotel, Waterford; the Heritage Hotel and Spa, Laois; Castleknock Hotel, Dublin; and Killashee Hotel, Kildare.
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As with previous acquisitions, FBDH&R signalled that it plans to invest in upgrading the Grand Hotel over the coming period.
This will include upgrades to the hotel’s rooms, bar and dining facilities, conference, wedding and leisure offerings, as well as IT infrastructure, marketing, and professional development.
FBDH&R Chief Executive, David Kelly, said: “We are delighted to have reached agreement with the Ryan family. The Grand Hotel in Malahide is an iconic hotel located in one of Ireland’s most unique settings.
“We are honoured to be entrusted with the stewardship of this historic hotel, whose rich heritage and enduring legacy have made it a symbol of excellence in hospitality.”
Sourse: breakingnews.ie
