Dublin's Hilton Dublin Kilmainham hotel has been acquired by French real estate group Covivio for approximately €45 million under a structured arrangement with the venue's current owner, Tifco Hotel Group.
While the transaction will see Covivio acquire the freehold interest of the hotel, it is understood by The Irish Times that Tifco will continue to be involved on foot of what market sources describe as a sale-and-manage-back agreement.
"Acquisition Of Joint Control"
The European Commission published a note on November 11 that confirmed Tifco's continued interest in the hotel. In the note, the European Commission gave its approval of the "acquisition of joint control" over the hotel by Covivio and Tifco owner Apollo Capital Management.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.
