Two family-run northside hotels reportedly set for a combined €70m sale
It comes as Irish hotel sales could hit a record this year, exceeding €1 billion, according to real estate broker...
The post Two family-run northside hotels reportedly set for a combined €70m sale appeared first on Lovin Dublin.
It comes as Irish hotel sales could hit a record this year, exceeding €1 billion, according to real estate broker CBRE
Two well-known Northside coastal hotels have both reportedly been put on the market by the Ryan family. The 203-bedroom Grand Hotel in Malahide is understood to be marketed with a guide price in the region of €60 million, while the 48-bedroom Marine Hotel in Sutton is priced at about €10 million.
The sale is believed to be in the early stages with staff informed of the plans in recent days. For decades the Ryan family have run the hotels, with the Irish Times reporting that the family are understood to be retiring from the hospitality industry.
Grand Hotel
Enthused by the impending arrival of the railway in Malahide, a member of the British Parliament James Fagan built the Malahide Hotel in 1835. When it was granted a royal warrant he decided to call it the ‘Royal Hotel’ before it became the Grand in the early 1900s. The hotel has had plenty of colourful owners including Dr. John Fallon Sidney Colohan – who bought the Grand Hotel in 1910 for £10,000, and painted the hotel pink to celebrate his favourite drink, Pink Champagne, which he consumed daily. When the railway arrived in Malahide, The Grand Hotel offered special combined railway and hotel tickets, an inclusive fare of sixty-three shillings covering travel between Malahide and Dublin and lodgings at the Grand for a week. The First World War disrupted the Grand Hotel’s tourist business for a period of time as the hotel was chosen as the Irish headquarters for the British Army in the event of a German invasion. The Grand Hotel was modernised in the latter half of the 20th century, in the 60s owners Luke and Yvonne McCabe used the hotel grounds as a riding school.
In 1974 Matt Ryan became the next owner of the Hotel. During the present ownership of the Ryan family the Hotel has expanded from having 12 staff to nearly 200. Development and improvement work started immediately and continues to this day. In 1982 a large conference centre was built, and in subsequent years 150 bedrooms, the Coast restaurant, a new Reception area, Ryan’s Bar and a superior Business meeting centre were added.
The Marine
Opened in 1897 and located at Sutton Cross, the Hotel was then known as the Golfers Hotel later becoming the Strand Hotel and finally in 1913 it assumed its name the Marine Hotel. It was one of the first businesses to have a telephone, its number being “Sutton 25”. The Gerarty sisters owned and managed the Hotel until 1959 when it was purchased by Oswald Johnson who built a seawater indoor swimming pool, a most unique feature at the time. The Ryan family took it over in 1989, adding a new swimming pool, new banquet room, restaurant, meeting rooms and an additional 25 bedrooms, in that time.
This news comes after a series of high-profile hotels in Ireland hit the market in recent months, with Kilkenny’s Mount Juliet resort seeking a buyer at €45 million, while Cavan’s Slieve Russell has reached the market for about €35 million, meanwhile Archer Capital recently bought the Dublin landmark Shelbourne Hotel for close to €300 million.
Have something we missed? Give us a shout on hello@Lovin.com
READ ON: Capel Street institution Goodwins to close after 50 years in business
The post Two family-run northside hotels reportedly set for a combined €70m sale appeared first on Lovin Dublin.