Prem Group, a hotel management company, has bought Merrion Hall, in Ballsbridge, Dublin 4. It has led a small group of investors in purchasing the property and plans to open it under the Premier Suites brand next July.

It estimates that the total investment on completion will be more than €5 million. It has also announced its intention to launch an EIIS investment scheme for Merrion Hall in the second half of 2014.