THE former Berkeley Court Hotel in Dublin is to close ahead of a major redevelopment of the Ballsbridge site, including 190 apartments.
The Clyde Court Hotel's new owner Chartered Land said it will close the hotel to prepare for construction work which is set to commence in early 2016.
Dalata, the company which operates the hotel, said it informed its 100 staff at the hotel this morning. It does not expect any job losses among its employees from the closure.
It is not clear however what effect the closure will have on any contractors working at the hotel who are not employed by Dalata.
Chartered Land, the developer who has taken over the site, said it expects to create 500 construction jobs during the redevelopment.
The Ballsbridge Hotel which adjoins the Clyde Court, will remain open until at least 2018.
Chartered Land, which is headed by Joe O'Reilly, paid an estimated €170m for the two hotels earlier this year. The site has planning permission for a new hotel, shops and hundreds of apartments.
Mr O'Reilly is being backed by the Abu Dhabhi Investment Authority.
The announcement came as two property investors, Germany's Allianz Real Estate and the UK's Hammerson, paid just over €1.8bn for loans tied to a slew of Chartered Land related properties including Dundrum Town Centre, a stake in the Ilac Centre, and the Pavilions in Swords in Dublin.