10/17/2016 | Hotels

Christie & Co brings the hotel ibis Dublin and site to the market

Specialist business property adviser, Christie & Co has been instructed to sell the Hotel ibis Dublin.

The Hotel ibis Dublin is located at Junction 9 of the M50 opposite the Red Cow ‘Luas’ Interchange, part of Dublin’s Light Rail Transit system. The M50/N7 intersection connects thousands of people daily to the Dublin area and is close to an extensive number of both domestic and international businesses.

The opportunity is being presented to market in three lots; Lot 1: the entire, comprising the hotel and the adjoining 0.81 acre site zoned residential combined, Lot 2: Hotel ibis Dublin and Lot 3 the 0.81 acre site.

The hotel comprises a 150 bedroom limited service hotel with two meeting rooms and an open plan ground floor space which features the hotel reception, bar, lounge and dining areas which can cater for approximately100 people. Within the last 14 months the hotel has benefitted from significant capital investment where all of the guest bedrooms have been upgraded to the most modern brand specifications.

Dave Murray, Director at Christie & Co Ireland comments, “The sale of the Hotel ibis Dublin presents a rare opportunity for hotel investors and developers to acquire a highly profitable, limited-service hotel as well as an adjoining development site located at Ireland’s busiest motorway junction - the M50/N7 intersection.

“Strategically located, and 20 minutes from the city centre, the hotel has seen a significant improvement in trade in the past 24 months with further potential to drive occupancy and Average Room Rate (ARR). The local area is characterised by a mix of enterprise and employment with industrial, retail, office and hotel uses. In addition, there is a mix of modern apartment complexes and mature housing estates close by.

“Dublin is a thriving European capital city and its hotel market has enjoyed the highest growth in Europe for two consecutive years with RevPAR growth in 2015 well in excess of 20% and similar growth forecast for 2016 according to STR. Furthermore, prospects for continued robust performance are strong as the Irish economy is currently the fastest growing in Europe and is forecast to continue growing at more than double the rate of the Eurozone average in 2017.”

The hotel is available with the existing franchise agreement with Accor Hotels under the ibis brand, allowing the business to continue to function benefiting from Accor’s loyalty programme and brand recognition.