Receiver Kieran Wallace of KPMG, appointed on behalf of the National Asset Management Agency (NAMA) and advised by Savills, has sold the Clarion Hotel Dublin Airport. The Dublin Airport Authority (DAA) has purchased the four-star hotel, which was marketed at a guide price of €10 million.
The asset is the Irish capital’s original airport hotel located on a prominent site at the entrance to the Airport campus. It includes 247 bedrooms, lounge, bar and restaurant along with superb conference and banqueting facilities. Dalata Hotel Group has leased the hotel from the DAA and are in the process of rebranding it as the Maldron Hotel Dublin Airport.
The DAA recently announced plans for the creation of a 70-acre business park on the Airport grounds, which would significantly transform the Airport campus that has already benefited from the development of the modern Terminal 2 in 2010.
Tom Barrett, head of Savills Hotels and Leisure team in Ireland, says: “This hotel is ideally situated to attract custom from both corporate and leisure travellers. The Irish hotel transaction market was very active in 2013, recording a total investment volume of €200 million, with Savills advising on almost 60% of deals by value. Properties included trophy five star hotels such as Ashford Castle and Sheen Falls and branded city centre hotels including Clarions, a Hilton and a Radisson Hotel."