Ireland: Bank Leumi UK has agreed a €42.55 million deal to refinance the five-star Morrison Hotel, a Curio Collection by Hilton property in the centre of Dublin.
The loan has been agreed with Centauro Investment XI SARL, an SPV owned by London-based private equity firm Zetland Capital. The terms of the deal have been agreed for five years.
Zetland acquired the 145-room property in 2021. Located on the River Liffey, it has since undergone a refurbishment. Zetland has also introduced ESG-led initiatives at the hotel to minimise operating costs and reduce its carbon emissions.
Patrick Joyce, general manager of Morrison Hotel, said: “Dublin is an extremely attractive tourist hotspot, offering one of the strongest locations in Europe for leisure and corporate demand.
“Leumi UK’s financial support, alongside the expert advice provided by their hotel finance team, will be invaluable as we continue to expand on the Morrison Hotel’s success as one of Dublin’s finest upper scale hotels.”
Liam Mullans, relationship director at Leumi UK, said: “With Zetland Capital’s strong track record of investing in real estate and with a strong management team in place, this is an excellent opportunity to support an experienced and capable team operating in the UK hotel market.
“Leumi UK has an appetite in Europe, and Dublin, which is considered to be one of the strongest locations in Europe for leisure and corporate demand, offers a compelling setting for investing in the hotel sector.”
