Tetrarch applies for permission to build boutique hotel in Dublin
Investment group seeks to build 158-bed hotel off O’Connell Street in city centre
Tetrarch already owns a number of hotels in Ireland, including the five-star Marker (above) on Grand Canal Square in Dublin’s docklands. Photograph: Cyril Byrne/The Irish Times
Irish investment group Tetrarch has applied for planning permission to develop a 158-bedroom hotel on Sackville Place, behind the former Clerys department store. Tetrarch lodged an application with Dublin City Council yesterday to convert Sackville House into a “budget boutique“ hotel, which would involve an investment of €16 million.
The house is a near- 27,000sq ft three-storey office block at the rear of Clerys at the junction of Marlborough Street and Sackville Place. It is largely unoccupied, having been acquired by Tetrarch last year for €4 million.
Tetrarch, which was known as Brehon Capital until last December, is hoping to open the hotel by the end of 2017. A project partner or operator has not yet been decided but it is expected that 150 staff would be employed there when it opens.
The so-called budget boutique concept that Tetrarch is hoping to introduce to Ireland provides for a high-quality room standard at affordable prices. Tetrarch’s view is that many guests visit Dublin for just one or two nights and simply want to be well located without having to spend a lot of money on their hotel room. It has therefore designed this concept without many of the traditional ancillary services that hotels often provide. This allows the company to use more space for rooms and build them to a compact size.
Tetrarch’s move could prove to be well timed with visitor numbers to the city showing good growth in the past couple of years, driving demand at a time when years of underinvestment have limited supply.
Michael McElligott, chief executive of Tetrarch, said: “We see a clear demand for additional hotel space in the city centre and the budget boutique concept we are planning is a new kind of offering that has not yet been seen in Ireland.
“The extension of the Luas line [linking the current red and green lines] and regeneration plans for the area mean we feel confident that the hotel will prove attractive to visitors to Dublin who are looking for a great location, a great price and a great guest experience.”
Mr McElligott added: “The redevelopment of this property will deliver a significant number of jobs to the area during construction and operation, and should assist in the ongoing revitalisation of this part of Dublin 1.”
Set up in 2011, Tetrarch already owns a number of hotels in Ireland, including the five-star Marker in Dublin’s docklands, the Powerscourt (formerly Ritz Carlton) in Enniskerry, Co Wicklow, the Mount Juliet in Kilkenny and the Mount Wolseley in Carlow.