Ireland’s biggest hotel group, Dalata, has entered into arrangements to lease a new hotel in the Dublin docklands.
This hotel, which will have over 200 bedrooms, is located within short walking distance of the Convention Centre, the IFSC and the 3Arena.
Construction has commenced on the development, with a target opening in late next year.
Dalata will operate the hotel on a 35 year operating lease, which will be subject to five year rent reviews.
Dermot Crowley, deputy CEO – business development and finance, said: “We are delighted to have entered into arrangements to lease a new hotel in the heart of Dublin’s thriving North Docks.”
“The Dublin hotel market as a whole continues to perform very well and we are pleased that we will be bringing another quality hotel to the city,” Mr Crowley continued.
“Today’s announcement brings the number of hotels in our development pipeline to nine with over 2,300 rooms in Dublin and the UK. We remain confident of announcing further new deals in 2019.”
The new hotel will form part of the Spencer Place project, which will extend to over one million sq. ft. and is being developed by a joint venture of Johnny Ronan’s Ronan Group Real Estate (RGRE) and Colony Capital.
The scheme includes 430,000 sq. ft. of Grade A office space, with the potential to increase to 530,000 sq. ft.
The office space has been fully let to tech company Salesforce, who last week announced plans to create 1,500 new jobs over the next five years.