European property investor Deutsche Finance International and Dublin and London-focused real estate manager BCP Capital have agreed a long-term deal with Ennismore to operate the Central Hotel in Dublin as the country's first Hoxton hotel.
Bought by DFI and BCP Capital in 2019, the Central Hotel is located on Exchequer Street, just off Grafton Street in Dublin city centre.
Plans are progressing for the careful refurbishment and expansion of the hotel, incorporating neighbouring buildings. The 129 bedroomed hotel is due to open in 2024.
As part of the redevelopment there will also be a significant increase in the existing bar, night venue and restaurant space, including a revitalised Rí-Rá nightclub and The Globe bar.
The redevelopment is being financed with a loan from a fund managed by an affiliate of Apollo Global Management.
The Hoxton is a series of open-house hotels inspired by the diversity and originality of its local communities.
It operates around the world, including in London, Paris, Amsterdam, Barcelona, Rome, Chicago, Williamsburg, Portland and Los Angeles.
Further openings in the pipeline ahead of Dublin include Brussels, a second property in Amsterdam, Edinburgh, Berlin and Vienna.
Francesco Orofino, Investment Vice President & Head of Hospitality at DFI, said the company was confident in the long-term fundamentals of the Irish market.
He said it was looking forward to closely collaborating with Ennismore to bring The Hoxton to Dublin and creating an iconic, cultural and social space for people to enjoy in the heart of the city centre.
Nick Cullen, Chairman of BCP Capital, said the company's vision for the Central Hotel project is to create a social and cultural hub that enhances the vibrancy of the city centre.
"The Hoxton is a renowned lifestyle hotel operator whose open house-style hotels are inclusive spaces, designed as meeting places for local communities as well as guests," he said.
Rob Andrews, chief operating officer of The Hoxton at Ennismore, said that Dublin is an exciting, cosmopolitan city, and a celebrated business and tourist destination.
"We are passionate about making the local culture and charm of the neighbourhood part of the fabric of our hotel. The Central Hotel building fits perfectly within our portfolio, thanks to its unique heritage and character," he added.
