The Burlington Hotel sells for € 67m - Positive sign of market confidence in Ireland

(26 Nov 2012)

In todays Irish independent it is reported that there was a huge boost in market confidence in Ireland  when The Burlington Hotel has been purchased by US venture Capital fund Blackstone for €67m. In 2007 Bernard McNamara paid €288m for famous landmark  which has hosted numerous famous events down through the years. It is a huge boost to the Irish Hotel industry.

Seven investors vied to buy the hotel and bidding went to two rounds.

Tim Fenn, the president of the Irish Hotels Federation, said the sale was good news for the hotel sector.

"It's good to see that the trend is reversing and hotels are returning to hotel operators," he said.

For full report please log click on link below

http://www.independent.ie/business/irish/hint-of-market-confidence-as-burlo-sells-for-67m-3305322.html

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