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The Ascott Limited arrives in Ireland

The Ascott Limited (Ascott), a subsidiary of the Singaporean CapitaLand, announces the takeover of a property located in Dublin for 55.1 million euros. It is the group's first property in Ireland.

The Temple Bar Hotel is an independent boutique-hotel on Fleet Street that is positioned on the upscale segment, at the heart of one of Dublin's historic quarters. The walls of this property were bought by The Ascott Limited for a total of 55.1 million euros. This 136-room hotel also offers two restaurants and a bar. This strategic operation takes place within a period of record tourist arrivals on the Emerald Isle. This year Ireland's market benefited from a very dynamic tourism market resulting in an 11% increase in tourist arrivals on the first ten months of the year, compared with the same period last year. 

The Ascott Limited specializes in operating hotel residences as an operator and owner. The acquisition of the Temple Bar Hotel brings the operator's European portfolio to 45 properties for 5,400 rooms in France, Belgium, Georgia, Germany, Ireland, Spain and Great Britain . Ass of January 1, 2016, Ascott International was the 5oth hotel group, with 136 properties for 21,465 rooms according to data publshed by Hospitality On. It has a pipeline with 22,000 keys and hopes to reach a global portfolio of 80,000 keys by 2020.

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