US businessman snaps up Dublin Hilton hotel for €30m
John Malone, reputed to be the largest land owner in the US, acquired the hotel at Charlemont Place
John Malone, who is the chairman of US media giant Liberty, also owns Humewood Castle in Co Wicklow. . Photograph: Frank Miller
Mr Malone, reputed to be the largest land owner in the US, purchased the hotel in partnership with the Lalco Hotel Group for an undisclosed price - thought to be close to €30 million.
Located beside the Grand Canal, the 193-bedroom, four-star Hilton made a profit of €2 million for 2012.
The Hilton was upgraded at a cost of €5 million in 2008 by owners Jerry O’Reilly and Bernard McNamara, whose loans were transferred to Nama.
“This is an exciting development for the Lalco Hotel Group and its partnership with John Malone,” said John Lally, director of Lalco Hotel Group.
“We look forward to continuing this mutually beneficial relationship and focusing on enhancing the experience of guests in all of our properties, through strategic improvements and considered investment.”