One of Dublin’s premier hotels, the five star Four Seasons, will be put up for sale as a going concern.
The sale of the Four Seasons, often described as an icon of the Celtic Tiger, is a clear sign of the downturn in the hotel sector in Ireland.
Designed as a landmark hotel, the Four Seasons had a difficult beginning. It opened half a year behind schedule because of construction delays, and the company building it went into receivership.
After a financial rescue package, it opened its doors in February 2001 and quickly became one of Dublin’s most luxurious. It has not recovered from last year’s losses of €2m.
The hotel cost about €90m and Anglo Irish Bank lent €50m of that. It is expected that the Four Seasons will sell for significantly less.
LISTEN: You Must Be Jokin’ podcast – listen to the latest episode now!
