The German asset management firm DekaBank, is in exclusive negotiations to acquire the Burlington Hotel in Dublin, Ireland from Blackstone Group.
It is expected that the hotel will sell for €180 million (£154 m),The Irish Times reported citing unspecified sources.
Acquired by Blackstone for €67m (£57m) in 2012, the hotel, which now trades as the Doubletree Hilton, is expected to sell for around €180m (£154m).
DekaBank was bidding against Abu Dhabi Investment Authority and the US-owned Hyatt Hotels and Host Hotels & Resorts for the former Burlington Hotel.
With Dalata Hotel Group, which also owns Belfast's Maldron and Clayton hotels, in talks to acquire its leasehold interest.
The plan for the former Burlington Hotel to continue operating as a four-star venue.
