Outside Bewley's Hotel in Ballsbridge, Dublin infomatique infomatique

BEWLEY’S HOTELS WILL be rebranded after Ireland’s biggest hotel operator – the Dalata Hotel Group – agreed to buy the chain as part of a €455 million takeover.

It will be part of the deal to buy 9 hotels from the Moran & Bewley’s Group including the landmark, 304-room Bewley’s Hotel Ballsbridge and 3 other properties in Dublin.

Dalata will also get a launchpad for the UK with the purchase of the Bewley’s Hotels in Leeds and Manchester, and 2 Moran-branded hotels in London, as it boosts its range overnight by 2,506 rooms.

But the Bewley’s name will be dropped as the publicly-listed hotelier re-markets some of the 3-star hotels as 4-star venues.

The Moran & Bewley’s Group was formed in 2008 when Limerick businessman Tom Moran bought the 6 Bewley’s Hotels for a reported pricetag of about €570 million at the peak of the property boom.

Moran’s first property, Dublin’s Red Cow Inn, and the 123-room Red Cow Moran Hotel are not part of the Dalata deal.

Inside Bewley's Hotel in Ballsbridge, Dublin Jude Doyland Jude Doyland

A big chunk of Dublin

Dalata said the buyout would expand its holdings in the key Dublin market as well as giving it a platform to grow in the UK, where until now it only leased one property in Wales.

The company will control 18% of the total Dublin hotel market through properties it either owns, leases or manages, although the competition watchdog still needs to approve the deal.

Bewley's Hotel in Ballsbridge, Dublin infomatique infomatique

It said the purchase, which was also awaiting shareholder approval in January, would lift its profits, before deductions, towards €8.3 million for the year.

Chief executive Pat McCann said the buyout would be a “transformational development” for the company, which expects to save up to €3 million a year by merging back-office operations of the 2 hotel groups.

It is a business we have admired for a long time and the acquisition is a rare opportunity to acquire a large well invested portfolio of hotels,” he said.

The full buyout includes:

• Silver Springs Moran Hotel, Co Cork – 109 rooms
• Crown Moran Hotel, London – 152 rooms
• Chiswick Moran Hotel, London – 123 rooms
• Bewley’s Hotel Ballsbridge, Dublin – 304 rooms
• Bewley’s Hotel Dublin Airport – 466 rooms
• Bewley’s Hotel Leopardstown, Dublin – 354 rooms
• Bewley’s Hotel Newlands Cross, Dublin – 299 rooms
• Bewley’s Hotel Manchester Airport – 365 rooms
• Bewley’s Hotel Leeds – 334 rooms

McCann said Dalata had now spent all the proceeds from its €265 million stockmarket float in March.

The latest buyout will be funded with a combination of existing cash, a €50 million private share offer and new €318 million loan.

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