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Irish-based Dalata Hotel Group has announced the acquisition of the Tara Towers Hotel in Dublin for €13.2m (£9.6m).
The three-star hotel, located on Dublin’s Merrion Road, features 111 bedrooms, bar, restaurant, car park and meeting and event facilities. Completion of the deal is expected to be in January 2016.
Dalata said that it plans to invest up to €4.5m (£3.3m) in an extensive refurbishment programme to convert the property into a modern four-star hotel. The property will also be rebranded as Maldron.
Dermot Crowley, deputy CEO, said: “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.”
