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News Release

Dublin

Temple Bar Hotel, Fleet Street, Dublin 2

Off-Market Acquisition On Behalf Of Ascott For €55.1M


​Advising The Ascott Limited, a member of CapitaLand, JLL has advised on the successful €55.1M off-market acquisition of the Temple Bar Hotel on Fleet Street in Dublin 2. CapitaLand is one of Asia’s largest real estate companies headquartered in Singapore, whilst The Ascott Limited is the group’s wholly owned serviced residence business unit.

The 136 guestroom Temple Bar Hotel benefits from a prime Temple Bar location and it has recently undergone a €6M refurbishment and successful repositioning.

Dan O’Connor, Senior Vice President, JLL Hotels & Hospitality Group commented:

“We are delighted to have helped secure this superb quality hotel, on an off-market basis, on behalf of The Ascott Limited. The acquisition marks a growing trend of Asian capital seeking to acquire high quality hotel investments in the Dublin market and we expect Asian buyer interest in Dublin to increase further in 2017”.

James Wood, Associate, JLL Hotels & Hospitality Group further noted:

“The acquisition gives Ascott a key foothold in the rapidly improving Dublin hotel market, which has seen RevPAR growth of +20% in 2016, and it provides Ascott with a platform for further expansion into Ireland in the future”.

The Ascott Limited were advised on the transaction by JLL and McCann FitzGerald.