Citywest Hotel, Dublin to be acquired by BSQ Investments & Managed by M&T28th October 2013
Ireland’s largest hotel, the 774 bedroom Citywest Hotel, is being acquired by BSQ Investments from the receiver and manager, Martin Ferris of Ferris Associates, and will be run by Michels & Taylor (M&T), one of Europe’s leading hotel and asset management companies.
The acquisition, for an undisclosed sum out of receivership, will secure the hotel and its employees future under the new ownership.
BSQ Investmens and M&T believe that the business has great potential to become one of Europe’s leading convention and leisure resorts and, with the improvements being felt in the Irish economy, the timing should help to further strengthen the trading position of the hotel in the coming years.
The new owners willl ensure there is no disruption to the existing business in any way and all future bookings held for the hotel, both confirmed and provisional, will be honoured.
A spokesman from BSQ investments comments:
“We are very excited to have secured this valuable asset and want to thank the previous management team, Dalata, for all they have done to develop the hotel to date, the staff for their continued commitment and, most importantly, the hotel’s loyal customers who we very much look forward to looking after in the future.”
Hugh Taylor, CEO of M&T comments:
“This is a wonderful opportunity for our company to manage Ireland’s largest hotel and we are very excited to have secured this contract with BSQ and further our operations in Ireland. We will be working with the new owners to build on the excellent foundations laid by Dalata over the past 3 years and futher develop the business to meet the new owner’s ambition of making Citywest one of Europe’s foremost convention and resort destinations.”