Dublin's Paramount Hotel has hit the market along with its bar, Turk's Head, via commercial real estate services firm CBRE with a guide price of €25 million.
Located on the capital's Parliament Street, the Paramount Hotel includes 66 bedrooms.
"An Outstanding Opportunity"
The Irish Times quotes Paul Collins of CBRE's hotel and licensed division as saying, "The sale of the Paramount Hotel offers Irish and international investors an outstanding opportunity to acquire a prime hotel in a key international capital city. Established hotels in Dublin city centre hotels rarely come to the market and this sale is especially significant as the Paramount Hotel is being offered with the benefit of full planning permission for additional rooms.
"The successful purchaser will have the choice to continue trading under the already well-established and independent Paramount Hotel name or an international hotel brand. Many international hotel companies are extremely eager to establish a flagship presence and their brand in the Dublin city centre market."
© 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.
