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MHL to buy two Dublin Airport hotels for about €95M
The deal adds 423 rooms to MHL’s portfolio and gives it its first foothold in Ireland’s busiest airport hospitality market.
John Malone-backed MHL Hotel Collection has agreed to buy two hotels at Dublin Airport from Tifco Hotel Group in its biggest acquisition in about a decade, in a transaction valued at around €95 million, according to Bisnow.
The purchase includes the 209-room Crowne Plaza Dublin Airport and the 214-room Holiday Inn Express Dublin Airport. MHL said the acquisition expands its portfolio to 16 hotels and more than 2,700 rooms across Ireland.
Bisnow reports that the move comes as MHL positions itself in the Dublin Airport hospitality market after the anticipated lifting of a 32 million annual passenger cap at the airport, which CBRE Ireland’s hotels head Paul Collins described as important for Ireland’s economic growth, tourism, and international connectivity.
The acquisition also continues MHL’s expansion following a €190 million refinancing with AIB completed in May that covered four hotels, with the package including €50 million of green lending tied to sustainability improvements. Bisnow adds that the deal is part of Tifco Hotel Group’s broader portfolio reshaping and capital recycling after prior disposals.