FBD Hotels and Resorts (FBDH&R) has announced it has reached an agreement to acquire the Grand Hotel in Malahide, Co Dublin, for a sum of approximately €55 million.
The Grand Hotel dates back to 1835 and employs over 200 people. It has been in the ownership of the Ryan family since 1974.
The hotel is located in the coastal town of Malahide, North Dublin, and has become a popular destination, conference, and wedding venue.
"As we pass the torch to new ownership, we do so with confidence, knowing that the buyer’s vision, values, and record aligns with the legacy we have carefully nurtured," said the Ryan family.
"This transition marks an exciting new chapter for the hotel, offering new opportunities to be embraced and new dynamics for current and future customers to experience.”
The agreement, subject to approval by the Competition and Consumer Protection Commission (CCPC), will see the Grand Hotel become the seventh property in FBDH&R’s luxury four-star and four-star superior hotels and resorts portfolio, bringing its total number of hotel rooms to 1,387.
As with previous acquisitions, FBDH&R signalled that it plans to invest in upgrading the Grand Hotel over the coming period. This will include upgrades to the hotel’s 202 rooms, bar and dining facilities, conference, wedding and leisure offerings, as well as IT infrastructure, marketing and professional development.
"We are honoured to be entrusted with the stewardship of this historic hotel, whose rich heritage and enduring legacy have made it a symbol of excellence in hospitality," said David Kelly, FBDH&R chief executive.
"The Ryan family and 200 strong team at the Grand have done an excellent job in preserving the timeless charm and traditions that have made it a venue of choice for many over the decades."
