According to multiple reports, a group backed by U.S. cable television magnate John Malone has acquired the InterContinental hotel in Ballsbridge, Dublin, which had been on the market for an estimated €50 million. The seller is British property company London & Regional.
The hotel had operated a Four Seasons since it opened in 2001 and was acquired by London & Regional Property in mid 2011. Since January of this year, it has operated as the InterContinental Hotel, Dublin, under a franchise agreement with IHG.
The hotel has 197 guestrooms, an indoor swimming pool, spa and fitness center, two restaurants and two bars.
The John Malone-led group, JMP, has been active in Ireland of late. It already owns the Westin Hotel in Dublin, as well as the Trinity City Hotel and The Hilton Dublin, and the Limerick Strand Hotel.
JMP says it will invest a further €5 million upgrading the property. The deal, which is subject to approval by the Competition and Consumer Protection Commission, is due to close next month.