Ireland’s second-largest hotel group Tifco is being put up for sale in a deal believed to be worth up to €600 mln, according to a news report by the Irish Times.
The Goldman Sachs-backed hotel group Tifco owns 18 hotels as well as sites for two new hotels in Dublin. It also manages a number of other hotels around the state, including the Clontarf Castle in Dublin, the Heritage Resort at Killenard in Co Laois and the Metropole in Cork.
Goldman Sachs first got involved with Tifco when it bought the company’s debt from IBRC in 2014. It took a controlling stake in the business in a subsequent restructuring.
The company’s founders – businessmen Aidan Crowe and Gerry Houlihan, the founder of DID Electrical – retain minority holdings in the group.
