Patron Capital has agreed a deal with Ireland’s National Asset Management Agency to buy a Dublin hotel out of receivership.
The private equity investor has paid €33m (£27.5m) for the 165-bedroom Clarion Hotel in Dublin’s financial centre. Patron has teamed up with Fitzpatrick Lifestyle Hotels on the deal.
It will provide the majority of the equity, with Fitzpatrick managing the four-star hotel.
The deal follows its purchase of the former Chief O’Neill’s hotel and the opening of a five-a-side football outlet by wholly owned operator Powerleague. Receiver KPMG appointed Savills to advise on the sale.
Jack.Sidders@estatesgazette.com
