Patron Capital bought the 147-room Clarion Hotel Dublin City for €33 million (US$44 million) from receivers appointed by Ireland’s National Asset Management Agency.
Patron Capital, London, has appointed Fitzpatrick Lifestyle Hotels, Dublin, to operate the hotel. Fitzpatrick also provided equity for the deal, The Irish Times reported.
The purchase reflects the growing interest in foreign investors for hotel properties in the Dublin market, as just last week U.S. investor Kennedy Wilson paid €111 million (US$151 million) for debt secured on the 265-room The Shelbourne Dublin, A Renaissance Hotel.
