The five star Powerscourt Hotel sold for €50m
Powerscourt Hotel in Enniskerry County Wicklow has been sold in a deal understood to be worth just over €50m.
The five-star hotel, close to the iconic Powerscourt Waterfall, has been purchased from Tetrarch Capital and Midwest Holding by the MHL Collection, a consortium led by US billionaire John Malone.
Other members of the MHL partnership are Paul Higgins and developer John Lally.
Commenting on the acquisition, Mr Higgins said: “We are very pleased to add Powerscourt Hotel Resort & Spa to the MHL collection, where it joins a five-star line up that includes the InterContinental, the Westin and Glenlo Abbey as well eight superb four-star hotels, all of which have undergone or are undergoing significant investment.”
The 200-room property was built by Johnny Ronan and Richard Barrett, a no-expense-spared build completed in 2007 at a reported cost of €200m.
The hotel first opened as a Ritz Carlton and was synonymous with Celtic Tigre Ireland, hosting a number of celebrity weddings including that of Robbie and Claudine Keane.
It entered examinership in 2012 and was sold the following year.
Meanwhile, the MHL Collection is made up of 11 hotels around Ireland including The Westin, The Intercontinental, The Trinity City, The Spencer, The Morgan, The Beacon, and The Strand Hotel in Limerick.