FBD Hotels & Resorts has inked a deal to acquire the Grand Hotel in Malahide, Dublin for €55 million.
The Irish and Spanish-based property group bought the 203-bed hotel from the Ryan family which has owned the property since 1974. Its acquisition of the Grand Hotel takes the number of hotels in its portfolio to seven, joining the Castleknock Hotel, Faithlegg, The Heritage and Killashee Hotel, all in Ireland as well as the Sunset Beach Club and La Cala Resort, both in Spain’s Costa del Sol.
Following completion of the acquisition, FDB plans to commence a refurbishment programme of the Grand Hotel which will include upgrades to the bedrooms, bar and dining facilities, conference, wedding and leisure offerings, as well as IT infrastructure, marketing and professional development.
FBD Hotels & Resorts was advised on the transaction by CBRE. The Ryan Family was advised by JLL.
What they said
David Kelly, CEO of FBD Hotels and Resorts said: “The Grand Hotel in Malahide is an iconic hotel located in one of Ireland’s most unique settings. We are honoured to be entrusted with the stewardship of this historic hotel and we look forward to adding to this storied history.”
The Ryan family added: “This transition marks an exciting new chapter for the hotel. As we pass the torch to new ownership, we do so with confidence, knowing that the buyer's vision, values, and record aligns with the legacy we have carefully nurtured.”