Burlington Hotel for sale at €65-€75 million
The four-star Burlington – one of Europe’s biggest city centre hotels – is by far Dublin’s largest hotel with 501 bedrooms in the heart of Ireland’s capital city. It occupies a 3.8 acre/1.54 ha D4 site and boasts the widest range of conference and event facilities in the city with the busiest hotel banqueting and conference business in Ireland.
Key features include:
¬ 501 bedrooms and suites
¬ 3,182 sq m/34,250 sq ft of conference, meeting and banqueting space for 1,998 delegates
¬ two separate bars and two restaurants
¬ Executive floor including an Executive Lounge
¬ Compact and well-equipped Fitness Centre
¬ Nightclub licensed for 600 people and used for special events including for Horseshow week
¬ Surface and covered car park with approximately 200 spaces
“The strong recovery of the Dublin hotel market has been quite remarkable since late 2010” states auctioneer CBRE, “and the strength of the resurgence is reflected in the performance statistics for Dublin hotels which have been amongst the best in Europe for almost two years now.
“Smith Travel Research (STR Global) who monitor hotel performance in major cities across the world on a daily basis, show that bedroom occupancy in Dublin has consistently been in positive territory since September 2010 and more impressively, RevPar (Revenue Per available room) has shown positive growth for each of the last 23 consecutive months, up to and including July 2012.”
The STR monthly stats are the ‘bible’ for most hoteliers, hotel owners and investors across the world and occupancy and RevPar are amongst the most important KPIs (Key Performance Indicators) hotel owners and purchasers use when assessing their interest in any particular hotel. As these STR statistics clearly demonstrate, Dublin hotels have been amongst the very best performing hotels in Europe this year, according to CBRE.
CBRE added that the Burlington Hotel’s current trading position now ranks it as the most profitable hotel in Ireland.
Commenting on the sales process Paul Collins of CBRE Hotels said that this weekend alone the hotel will accommodate almost 1,000 overnight guests for next weekend’s much-hyped US College Football game between Notre Dame and Navy, an event which is bringing 35,000 American tourists to Dublin.
The hotel is being offered for sale by Private Treaty and CBRE Hotels are guiding at €65 million to €75 million.
