The four-star Temple Bar Hotel in Dublin has been acquired by Singapore-based Ascott Limited for £46.8m.
The 136-bedroom hotel was previously owned by an affiliate of Angelo Gordon & Co with Pyramid Hotel Group and Windward Management as minority shareholders, who took over the property in 2015.
Temple Bar Hotel was previously operated by Pyramid, who will continue to be involved, and underwent an extensive refurbishment and repositioning straight after its acquisition in 2015, costing approximately £5.2m.
The renovation took to the property from a three-star to a four-star and saw RevPAR grow by 54%.
Alongside its 136 bedrooms, Temple Bar Hotel operates several F&B outlets, including ‘Buskers on the Ball’, a sports venue that was also recently developed.
Due to its city centre location, the Temple Bar Hotel benefits from strong demand from over 50 global corporate offices in the surrounding area.