Hilton's Dublin Airport hotel sold
THE PJ Walls Holdings Group has confirmed that unconditional contracts of sale have been exchanged for the Hilton Dublin Airport Hotel. The four-star hotel was sold in an off-market deal to Irish investors including Emerald Investment Partners (EIP) and Windward Management, headed up by Patrick Coyle.
Advisers CBRE Hotels said that an unsolicited approach for the hotel was made late last year, and it "was timely as the PJ Walls Holdings Group was in the process of realigning its overall group structure and given the sustained upturn in trading performance in the Dublin hotel market over a number of years", the owners instructed CBRE to lead the negotiations.
CBRE said PJ Walls said the sale was conditional on the profitable hotel being kept as a "going concern" and protecting all of the current employment at the property.