Irish hotel group Dalata has agreed to buy the Tara Towers Hotel in Dublin for €13.1 mln.

Irish hotel group Dalata has agreed to buy the Tara Towers Hotel in Dublin for €13.1 mln.

The 3-star property is locate in Merrion Road in Dublin 4 and has 111 en-suite bedrooms, as well as meeting and event facilities, on a 0.6 hectare site.

The cash transaction is expected to be completed in January 2016. Dalata said it planned to invest up to €4.5 mln in converting the property to a four-star hotel, which will be rebranded as a Maldron Hotel.

Dermot Crowley, deputy CEO for business development and finance, said: ‘We look forward to upgrading this property in a manner similar to the recent refurbishment of Maldron Pearse Street Hotel which is proving to be a very successful project for us.’