HappyChef Daily · Today's restaurant news
Two Dublin Hotels And Two Avoca Cafés Come Up For Sale
- Ireland
- Malta
In Short
- The new 229-bedroom Premier Inn in the Clerys Quarter is for sale at a guide price of €66.6 million.
- The Schoolhouse Hotel in Ballsbridge, with 31 rooms and a gastrobar, seeks €12 million.
- The buildings of the Avoca stores in Kilmacanogue and Rathcoole, with their cafés, are on the market for €29 million.
- Dublin is short about 3,600 hotel beds, and developers are swapping office plans for hotels.
- The Hard Rock Hotel Malta has 400 rooms and more than ten restaurants and bars.
- Malta's prime minister says energy and fuel subsidies will stay.
Today was a property day in Dublin. Three buildings where guests eat, drink or sleep came on the market, and a column asked why developers now prefer hotels over offices and homes.
In Malta, a big new hotel promises hundreds of jobs, and the prime minister said the energy subsidies that keep costs steady are not going away.
A New 229-Room Budget Hotel Off O'Connell Street Seeks A Buyer
The Premier Inn on Earl Place, part of the Clerys Quarter, is almost built. It has 229 bedrooms and should open early in 2027. JLL is selling it at a guide price of €66.6 million.
The hotel is let for 30 years to Premier Inn's Irish company, with Whitbread as guarantor. The rent rises with inflation, within a cap and a floor.
The agents expect Irish and foreign investors. For nearby owners, it means more budget rooms in the city centre from next year.
Sources: The Irish Times
A Ballsbridge Boutique Hotel With A Gastrobar Looks For New Owners
The Schoolhouse Hotel on Northumberland Road in Dublin 4 is for sale as a going concern. The guide price is €12 million for 31 rooms, about €387,000 per room.
The building was a parish school from 1859. Galway hotelier Terry Sweeney turned it into a four-star hotel in 1998 and has run it for almost 30 years.
It has a gastrobar, lounges, a garden with outdoor seating and 24 parking spaces. Lisney is handling the sale.
Sources: The Irish Times
Investors Can Buy The Buildings Behind Two Avoca Cafés
Kilmacanogue · Rathcoole · Ireland
Signature Capital is selling the Avoca stores in Kilmacanogue, Co Wicklow, and Rathcoole, Co Dublin, for €29 million. Avoca rents them until 2047, so the cafés keep running.
Kilmacanogue has the Sugar Tree Cafe, the Fern House Restaurant and a bakery. Rathcoole has the Egg Cafe and the Birdcage Cafe on its first floor.
The rent is €1.68 million a year and follows inflation, up to 3.5% a year. It is expected to reach €2 million in 2027.
Sources: The Irish Times
Developers Swap Offices For Hotels As Dublin Stays Short Of Beds
Dublin is short about 3,600 hotel beds, roughly 20 large hotels. About 2,600 new beds are already planned, according to Mitchell McDermott.
Several developers have dropped office plans for hotels. One is KGAL, which wants a 225-bedroom hotel on Golden Lane. Lenders find hotels easier to fund than new offices.
The column notes that hotel operators need more than about 80% occupancy to do well. More rooms can mean more guests for city restaurants, but also more competition for staff.
Sources: The Irish Times
A 400-Room Hotel With Over Ten Restaurants Promises Many Jobs In Malta
Prime Minister Robert Abela visited the Hard Rock Hotel Malta, a project of the DB Group worth about €350 million. It is a five-star hotel with 400 rooms, several pools and more than ten restaurants, bars and entertainment venues.
He said it should bring hundreds of jobs in catering, hotel administration, entertainment and fitness. He also said Malta should aim for better tourism, longer stays and visits all year, not only more visitors.
For other kitchens and bars, a project of this size will also compete for cooks and waiters.
Sources: Illum
Empty Shelves Prompt A Call For More Local Food
The Nationalist Party wants more support for Maltese farmers, herders and food producers. Shadow ministers Toni Bezzina and Michael Piccinino said the empty shelves caused by transport protests in Italy are a warning.
They asked for policies that lower producers' costs, and more help for small firms and cooperatives that make, process and deliver local food. Imports stay essential, they said, but food supply should be a national priority.
Sources: TVMnews
Malta Keeps Its Energy And Fuel Subsidies In Place
At an EY conference in Valletta, Robert Abela said the energy and fuel subsidies will stay. They cost about €400 million this year and the same is expected next year.
He said the next growth must come from productivity, technology and AI, and admitted that finding skilled staff remains a big challenge. He also mentioned a pledge of €2 billion for hospitality made by CEOs at a WTTC summit.
The budget for 2027 comes next Monday.
Sources: The Malta Independent
What Does This Mean For Your Restaurant?
For Irish owners, the Dublin sales show that investors still trust hotels and the food and drink around them. More beds are coming, so a city centre restaurant can plan for more visitors.
For Maltese owners, stable energy prices help, but a new 400-room hotel and a short supply of skilled staff mean it is wise to look after your team now.
Sources
This edition summarises the articles below. Read them for the full details.