Ireland’s first hotel to operate under Marriott’s Moxy brand has been bought in a €35m (£30m) off-market deal.
The MHL Hotel Collection has bought Moxy Dublin City, which opened in late 2019, from Midwest Holding. CBRE, which ran the process, said the hotel attracted interest from domestic and international property investors, hotel operators and private equity bidders.
The transaction takes the MHL Hotel Collection’s portfolio to 12 sites. The company was formed in 2013 by partners John Malone, Paul Higgins and John Lally. Higgins said the acquisition “highlights our confidence and belief in the long-term prospects for our well-located and managed hotels”.
Alexandra Sheeran, senior analyst at CBRE Ireland, said: “The Moxy Dublin City is the first major deal to close in just over a year in the Dublin hotel market. The level of interest shown from investors gives us great confidence for future transactions in Dublin.”
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