Dalata agrees to buy Tara Towers hotel for €13.155m
Published 16/12/2015 | 07:10
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.
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.