KEY TO THE DOOR
‘HYDE’ VENUE TO OPEN OFF GRAFTON STREET A new bar and restaurant called ‘Hyde’ is to open just off Grafton Street in Dublin. The new establishment is housed in the three-storey, multi-let building, part of the Creation Arcade, which fronts onto Duke Street. It extends to approximately 1,199 square metres and is currently let to Nespresso. The Hyde bar, which is currently being fitted out, will be operated by a consortium of Mike Ormond and Ian Redmond, who have operated two food and beverage outlets in Dublin Airport since 2009. John McCafferty, formerly of the Pembroke Bar and Restaurant in Dublin 2, will also be a partner in the new venture.
JD WETHERSPOON HITS RECORD SALES
GRESHAM HOTEL SOLD FOR 92M The 92m sale of the Gresham Hotel in Dublin to Spain's Riu group has been completed. NAMA put the property up for sale earlier this year. The Dublin hotel was owned by Precinct Investments, which is controlled by builder Bryan Cullen. Precinct is the vehicle that was used in 2004 to take the then stock market listed Gresham Hotel group private in a 117m deal. Riu beat competition from US private equity giants Apollo and Cerberus in the race to acquire the hotel. The Gresham Hotel - now known as the Riu Plaza The Gresham Dublin Hotel - has 323 rooms and suites, 20 function rooms, a restaurant and a bar. The Riu group is 49% owned by travel giant TUI and is TIU's biggest hotel brand, operating more than 100 resorts and hotels around the world.
Tim Martin of JD Wetherspoon
Pub chain JD Wetherspoon has seen its revenue increase by 5.4% to £1.595bn for the 52 weeks to July 24th 2016. The newly-filed accounts show that the company saw an increase of 3.4% in likefor-like sales. Food sales increased 3.5% and its profit before tax was up by 3.6% to Stg£80.6m, reports TheCaterer.com. Wetherspoon’s also saw its operating profit and margin decrease by 2.5% and 6.9% respectively, due to an increase in staff costs, utilities and depreciation, according to the company. Although the pub chain has enjoyed success this year, it recently had to put its plans for more openings in Ireland on hold due to high property prices and planning delays.
HERBERT PARK SEEKS EXTENSION The shortage of hotel rooms in Dublin is a potential obstacle to the further growth prospects of tourism in the capital. That’s why it is encouraging to see planning permission being submitted for new hotels and existing hotels seeking to expand their operation. The four-star Herbert Park Hotel in Ballsbridge in Dublin has submitted planning permission to Dublin City Council for a six-storey extension which would extend its total floor area to 12,000 square feet, reconfigure four existing bedrooms, and add a further 32 bedrooms.
SEPTEMBER 2016 | HOTEL
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