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US group buy Dublin's Shelbourne Hotel

Friday, August 01 14:34:43

US investment group, Kennedy Wilson, has bought Dublin's iconic Shelbourne Hotel for an undisclosed sum, according to reports.

The US group plan to invest in the five-star hotel and the hotel will continue to be managed by Marriott International.

The acquisition was effected last night via a pre-pack receivership, with Ernst & Young restructuring partner Luke Charleton appointed to handle the process, according to the Irish Times online edition.

Ownership of this prized asset has switched from Jerry O’Reilly and John Sweeney, the remaining owners from a consortium that acquired the hotel in 2004. Other members of the consortium included Bernard McNamara, who was recently declared bankrupt in Britain.

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