FBD Hotels & Resorts is understood to have been named preferred bidder for the Grand Hotel in Malahide on Dublin’s northside.
The group has entered into exclusive negotiations to buy the hotel from its current owners, the Ryan family, according to sources.
A message left with the hotel’s managing director Matthew Ryan was not returned. A spokesman for FBD Hotels & Resorts declined to comment.
While a deal is not guaranteed, buying the Grand would expand the company’s portfolio to seven properties. FBD Hotels & Resorts already owns The Heritage Hotel and Spa in Co Laois, the Castleknock Hotel in Dublin, the Faithlegg Hotel in Co Waterford and the Killashee Hotel and Spa in Co Kildare. It also controls the Sunset Beach Club and La Cala Resort in Spain’s Costa del Sol.
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The company, led by chief executive David Kelly, is part of PLL Property & Leisure, which is ultimately owned by Farmer Business Developments.
[ Well-known Dublin hotels set for €70m saleOpens in new window ]
The Grand went on the market during the summer with an asking price of €60 million, along with the Marine Hotel in Sutton, which was priced at €10 million. FBD is not thought to be involved in a deal for the Marine.
The 203-bedroom Grand dates from 1835 when it was opened as the Malahide Hotel and later the Royal Hotel. It was renamed the Grand in the early 1900s.
Matt Ryan took over the four-star hotel in 1974 and it has remained in the Ryan family since, according to the hotel’s website. It has expanded steadily in that time, adding a conference centre in 1982. The hotel employs about 200 people.
A deal would make the Grand the latest high-profile hotel to change hands this year. Businessman Barry English is reportedly in talks to buy the Mount Juliet resort in Kilkenny, which had been for sale for about €45 million, while an Irish-Australian group is said to be in the process of buying the Slieve Russell in Co Cavan. Archer Capital bought the Shelbourne Hotel for close to €300 million earlier this year.
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