Working with Bain Capital Credit, Whitbread has acquired a site at Newmarket Square in Dublin 8 on which it is planning to develop a new 151-bedroom Premier Inn hotel.
"A Significant Landmark"
Head of Acquisitions for Premier Inn in Ireland Kevin Murray stated, "Securing the Newmarket site and reaching over 1,000 bedrooms in the pipeline is a significant landmark for us as we aim to be the number one budget hotel chain in Ireland. The site is within an exciting regeneration area and we're confident it will trade strongly being right across the street from the Teeling Whiskey Distillery and within walking distance of the Guinness Storehouse, St Patrick's Cathedral and Christchurch."
"Very Pleased"
Meanwhile, Bain Capital Credit managing director David Cullen commented, "We are very pleased to be partnering with Whitbread to bring a 151-bedroom Premier Inn hotel on stream at Newmarket Square in what is a historic and regenerated part of Dublin. As a multi-sector investor deploying capital efficiently and at scale, we fundamentally believe in the potential of the Irish hotel real estate market and in the inherent sustainability of Dublin's thriving tourist economy."
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