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Investment in Europe's hotel sector hits €3bn

Citywest Hotel lender says figure is still below pre-Covid level

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Starwood has a £52m loan held against the Citywest Hotel in Dublin

Starwood has a £52m loan held against the Citywest Hotel in Dublin

Starwood has a £52m loan held against the Citywest Hotel in Dublin

Hotel investment volumes across Europe surged to more than €3bn in the second quarter of this year compared with the first three months of 2021, according to Starwood European Real Estate Finance, which has a £52m (€44m) loan held against the Citywest Hotel in Dublin.

The hotel is owned by Irish property investment group Tetrarch Capital. Citywest is being used by the HSE as a quarantine centre. Starwood said it expects the contract with the HSE to be in place for most of 2021.

Starwood has previously noted that the HSE contract held by the Citywest Hotel significantly de-risked the investment firm’s loan against the property.


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