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Two family-run northside hotels reportedly set for a combined €70m sale

Published 10:22 16 Jul 2024 BST

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Two family-run northside hotels reportedly set for a combined €70m sale

It comes as Irish hotel sales could hit a record this year, exceeding €1 billion, according to real estate broker CBRE

Two well-known Northside coastal hotels have both reportedly been put on the market by the Ryan family. The 203-bedroom Grand Hotel in Malahide is understood to be marketed with a guide price in the region of €60 million, while the 48-bedroom Marine Hotel in Sutton is priced at about €10 million.

The sale is believed to be in the early stages with staff informed of the plans in recent days. For decades the Ryan family have run the hotels, with the Irish Times reporting that the family are understood to be retiring from the hospitality industry.

Grand Hotel

In 1974 Matt Ryan became the next owner of the Hotel. During the present ownership of the Ryan family the Hotel has expanded from having 12 staff to nearly 200. Development and improvement work started immediately and continues to this day. In 1982 a large conference centre was built, and in subsequent years 150 bedrooms, the Coast restaurant, a new Reception area, Ryan’s Bar and a superior Business meeting centre were added.

The Marine

This news comes after a series of high-profile hotels in Ireland hit the market in recent months, with Kilkenny's Mount Juliet resort seeking a buyer at €45 million, while Cavan's Slieve Russell has reached the market for about €35 million, meanwhile Archer Capital recently bought the Dublin landmark Shelbourne Hotel for close to €300 million.

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