FBD Hotels and Resorts (FBDH&R) has agreed to buy the Grand Hotel in Malahide, Co Dublin in a deal worth €55 million.
The Irish and Spanish-based property group owns and operates four hotels in Ireland - Faithlegg Hotel in Waterford, the Heritage Hotel and Spa in Laois, Castleknock Hotel in Dublin, and Killashee Hotel in Kildare.
The Grand Hotel, which employs over 200 people, dates back to 1835 and has been in the ownership of the seller, the Ryan family, since 1974.
FBDH&R has signalled that it plans to invest in upgrading the hotel over the coming period.
This will include upgrades to the 202 bedrooms, bar and dining facilities, conference, wedding and leisure offerings, as well as IT infrastructure, marketing and professional development.
"As we pass the torch to new ownership, we do so with confidence, knowing that the buyer's vision, values, and record aligns with the legacy we have carefully nurtured," the Ryan family said in a statement.
"This transition marks an exciting new chapter for the hotel, offering new opportunities to be embraced and new dynamics for current and future customers to experience."
FBDH&R was advised on the transaction by CBRE, while the Ryan Family was advised by JLL
The agreement is subject to approval by the Competition and Consumer Protection Commission (CCPC).
