Sunday 23 October 2016

Dalata agrees to buy Tara Towers hotel for €13.155m

Published 16/12/2015 | 07:10

Tara Towers Hotel. Pic: Arthur Carron/Collins
Tara Towers Hotel. Pic: Arthur Carron/Collins

Ireland's largest hotels group Dalata has continued its acquisition spree, entering into an agreement to buy the Tara Towers hotel on the Merrion Road in Dublin 4 for €13.155m.

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The deal is expetced to complete in January, with the payment for the three-star hotel to come in cash.

Dalata said it plans to invest up to €4.5m "in an extensive refurbishment programme to convert the property into a modern four star hotel". It will rebrand the hotel as a Maldron.

"The Tara Towers Hotel is a very well located hotel in Dublin 4 that fits seamlessly into our strategic plan to grow our portfolio within Ireland and specifically the Dublin market. We look forward to upgrading this property in a manner similar to the recent refurbishment of Maldron Pearse Street Hotel which is proving to be a very successful project for us," Dalata deputy chief executive (business & finance) Dermot Crowley said.

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