The Irish hotel group will invest close to 30 million euros to buy the walls of the Maldron Hotel Parnell Square, which it has managed since 2007, and the Pearse Hotel, which will be converted into Maldron Pearse Hotel.
Dalata Hotel Group is strengthening its position as leader on Ireland's market with the acquisition of two properties in Dublin. The two operations represent a total investment of some 30 million euros.
The group will take over the walls of the Maldron Hotel Parnell Square, which it has managed since 2007 through a rental contract. Representing 15.3 million euros, the transaction should be finalized in August 2014. The Maldron Hotel Parnell Square is a three-star property with 126 rooms.
Dalata Hotel Group will also strengthen its presence in the Irish capital with the purchase of the walls and business of the Pearse Hotel for 14.4 million euros. The transaction should be finalized in the coming months. The 101-room hotel will be rebranded as the Maldron Hotel Pearse Street after renovation.
The acquisition of the Pearse will bring the number of hotels in Dublin operating under the Maldron brand to seven, after the Maldron Cardiff Lane, Maldron Parnell Square, Maldron Smithfield, Maldron Tallaght, Maldron Citywest and Maldron Dublin Airport. Leader on its native market, Dalata Hotel Group currently operates a portfolio of some 40 hotels in Ireland, representing close to 6,100 rooms.
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