Hyatt Hotels Corp. has stated “serious interest” concerning the purchase of one of the oldest hotels in Dublin – 169-year-old Grand Canal Square Hotel. This property is on market for already two years and its price estimated around €25 million.
According to interview of the company’s vice-president of acquisitions and development in Europe Peter Norman to The Irish Times, Hyatt is currently considering the purchase of properties in the largest city of Ireland. At the moment several companies have made their bids on the purchase of Grand Canal Square hotel and Hyatt is thought to be on the lead, but no final decision is yet available.
The new owner of the hotels will need further investments in this property. As specialists state, another €10 million will be required just to bring this hotel in Dublin in accordance with modern international standards. The hotel has 169 guestrooms, some business facilities, a Spa center, a ballroom and an indoor swimming pool. Dining facilities of the accommodation include a restaurant and a bar.
Currently Hyatt has no hotels in Ireland.