Dalata, Ireland's largest hotel group, has added another well-known hotel to its portfolio by acquiring the Tara Towers Hotel in Dublin 4 for €13.1 million.
The company said it expects to complete the deal for the three-star hotel on the Merrion Road in January, adding that it plans to invest up to €4.5 million in an "extensive refurbishment programme to convert the property into a modern four-star hotel", and will rebrand the property as a Maldron Hotel.
Currently, facilities at the Tara Towers Hotel, located adjacent to the recently developed Elmpark Urban Campus, include 111 ensuite bedrooms, bar, restaurant, car park and meeting/event facilities. The total size of the site is 1.46 acres.
Dermot Crowley, Deputy CEO Business Development and Finance at Dalata, said: "The Tara Towers Hotel is a very well located hotel in Dublin 4 that fits seamlessly into our strategic plan to grow our portfolio within Ireland and specifically the Dublin market. We look forward to upgrading this property in a manner similar to the recent refurbishment of Maldron Pearse Street Hotel which is proving to be a very successful project for us."
In October, Dalata announced the purchase of the Clarion Hotel in Co. Cork for a record €35.1 million.
(* Pictured is Dalata chief executive Pat McCann speaking at the recent National Hospitality Conference in Dublin)
