European private equity real estate investor Deutsche Finance International (DFI) and value-add real estate manager BCP Capital have signed a long-term agreement with hospitality company Ennismore to operate the Central Hotel as Ireland’s first Hoxton.
The 129-room hotel located in Dublin city centre is scheduled to open in 2024.
Acquired by DFI and BCP Capital in 2019, the Central Hotel is located on Exchequer Street, just off Grafton Street, one of Dublin’s prime retail and leisure destinations. Plans are progressing for the careful refurbishment and expansion of the hotel, incorporating neighbouring buildings, which will restore the Central Hotel and its Library Bar as a cultural landmark in the city centre.
The redevelopment is being financed with a loan from a fund managed by an affiliate of Apollo Global Management.
‘To have secured this agreement in the current market is a strong endorsement of this project’s potential by all involved and, through the redevelopment of the Central Hotel, we want to reinvigorate this historic area of Dublin’s vibrant city centre in keeping with its heritage,’ said Paul Nearchou, managing director of DFI.