The owner, Russian billionaire Yelena Baturina, is believed to have paid €22 mln for the asset back in 2012.
Global real estate advisor CBRE, has been appointed to sell Dublin’s The Morrison hotel for a guide price of €80 mln.
Located on the northern banks of the Liffey and facing Temple Bar, the hotel is owned by Russia’s richest woman Yelena Baturina and comprises 145 guest rooms and suites, seven meeting and events spaces accommodating up to 425 delegates, food and beverage outlets and a fitness centre.
Baturina is believed to have paid €22 mln for the asset back in 2012. At the time, the asset was marketed by CBRE on behalf of landlord Nama for a guideline price of €25 mln.
The hotel benefits from its association with Hilton Worldwide, being branded as a DoubleTree by Hilton Hotel. The Morrison is being sold subject to a franchise and offers operational flexibility for a new owner. There is also the potential to enhance the facilities, with scope for further development through the acquisition of adjoining properties.
Paul Collins, head of hotel investment properties UK & Ireland, CBRE said: ‘The Morrison has enjoyed tremendous trading success in recent years and presents an unrivalled opportunity to invest in a Dublin gem situated in a truly central location. The strengthening corporate demand in the city centre and booming tourism numbers contribute to the continuing Dublin growth story.’
