Irish and Spanish-based FBD Hotels and Resorts (H&R) has signed an agreement to acquire the Grand Hotel in Malahide, North Dublin, Ireland, for approximately €55m ($56.65m), subject to regulatory approval.
With a history dating back to 1835, the hotel has been under the ownership of the Ryan family since 1974 and is a venue for conferences and weddings.
The property is near Dublin City and Dublin Airport.
The Ryan family said: “The Ryan family is proud to have been part of the remarkable history of this iconic hotel, which has stood as a beacon of hospitality and tradition for so many years. We extend our heartfelt gratitude to our loyal guests and dedicated team who have made this journey unforgettable.
“As we pass the torch to new ownership, we do so with confidence, knowing that the buyer’s vision, values, and record aligns with the legacy we have carefully nurtured. This transition marks an exciting new chapter for the hotel, offering new opportunities to be embraced and new dynamics for current and future customers to experience.”
With this acquisition, which is pending approval by the Competition and Consumer Protection Commission, the Grand Hotel will become the seventh property in FBD H&R's portfolio of four-star and four-star superior hotels and resorts.
The addition of the Grand Hotel will bring the total number of rooms under the group's management to 1,387.
FBD H&R, a division of the farmer-owned investment company Farmer Business Developments, currently operates six properties, including four in Ireland and two resorts in Spain.
The group has indicated its intention to invest in the Grand Hotel, enhancing the property's 202 rooms, bar and dining facilities, as well as its conference, wedding, and leisure offerings.
FBD H&R chief executive David Kelly said: “We are delighted to have reached an agreement with the Ryan family. The Grand Hotel in Malahide is an iconic hotel located in one of Ireland’s most unique settings.
"We are honoured to be entrusted with the stewardship of this historic hotel, whose rich heritage and enduring legacy have made it a symbol of excellence in hospitality.”
The transaction was facilitated with FBD Hotels and Resorts receiving advice from CBRE, and the Ryan Family from JLL.
