Hotel management firm PREM Group has announced a funding package worth €30m with Proventus Capital Partners.
The Dublin-based company said it intends to use the funds to finance its expansion plans.
These plans include "strategic acquisitions" of freehold hotels, serviced apartment developments and hotel management and services companies in PREM Group's core European markets.
PREM Group's current portfolio spans Ireland, Belgium, France, Germany, Netherlands and the UK, with more than 3,000 guest rooms and 1,500 employees.
It manages and operates 42 hotels and serviced apartments as well as Premier Suites Dublin, with its properties at Leeson Street and Ballsbridge.
"We intend to expand PREM Group substantially over the next three years. This funding will allow us to move quickly when the right opportunities arise," commented the company's CEO Jim Murphy.
He said the firm is looking across all its markets including Ireland, where there is still some good value to be had, especially in the four star sector outside Dublin.
