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Dublin's Shelbourne Hotel sold

17 January 2005 by

Dublin's iconic Shelbourne Hotel has been sold to a consortium of Irish investors, in a deal believed to be worth between €120 million (£84.2m) and €130 million (£91.2m).

The sale to Kantaka Enterprises, which is led by Galway hotelier John Sweeney, was cleared by Ireland's Competition Authority on 4 January.

It is understood that the consortium plans to invest at least €30m (£21.1m) in the property, which was formerly owned by the Royal Bank of Scotland.

However it will continue to be operated on a long lease by Marriott International.

by Nic Paton

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