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Show Me The Money
This US billionaire has just bought ANOTHER Irish hotel
We guess he likes it here.
A US BILLIONAIRE with a penchant for Irish property has just bought another one of the country’s hotels.
John Malone, alongside his JMP partners Paul Higgins and Lalco, has agreed to purchase the InterContinental Hotel in Ballsbridge, Dublin (formerly the Four Seasons Hotel) from London and Regional Property, for an undisclosed sum.
The partnership and InterContinental Hotel Group will invest over €5 million “to further enhance the experience of visitors to Dublin’s premier five-star hotel”, according to a statement released today.
The deal still needs to be approved by the Competition and Consumer Protection Commission, but is the expected to be completed within 30 working days.
Malone, the biggest private landowner in the US, already owns the five-star Westin Hotel, as well as the Trinity City Hotel, The Hilton Dublin and the Limerick Strand Hotel.
The InterContinental Hotel, which had traded as the Four Seasons Hotel since it opened in 2001, was acquired by London and Regional in mid-2011.
The hotel’s name was changed in January. It features 197 guest rooms including 58 suites, an indoor swimming pool, a spa and fitness centre, two restaurants, two bars, meeting rooms and a 15,000 square foot ballroom.
Higgins said John Malone and partners are “thrilled to be associated with a hotel that holds such a special place in the hearts and minds of discerning visitors to Dublin”.
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