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US BILLIONAIRE JOHN Malone has completed a reported €65 million deal for Dublin’s iconic Westin Hotel.
The Westmoreland Street property is the latest addition to Malone’s Irish portfolio, which also includes the Trinity City Hotel on Pearse Street and the Hilton on Charlemont Place.
Malone, who has invested in the three properties through with the Lalco Hotel Group, was dubbed ‘The Cable King’ in the US after a twenty-four year stint with telecommunications giant TCI.
Malone is the largest individual land-owner in the US, with a holding of close to 2.2 million acres in Maine, Maryland, New Mexico, Colorado and Wyoming.
Lalco director John Lally said that the Westin “fits exceptionally well with the profile of our other properties in terms of location and iconic status and our objective is to maintain its position as one of Ireland’s leading five star hotels.”
In addition to the Dublin hotels, Lalco also runs The Strand in Limerick, The Harbour Hotel in Galway and the Glenlo Abbey Hotel and Golf Club.
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His investments in Ireland are creating many jobs which is a great thing. My own father got a job working for him on his humewood estate after 5 years of unemployment. Generally I’m against oligarchs throwing their money and weight around but he is actually a fair employer :)
Thumbs up to your ould boy.
Iconic? Ten years ago it was a bank, now it’s a NAMA hotel… Like a lot of Dublin properties.
Stop regurgitating press releases, please.
Why the fu*K would anybody want to own 2.2 million acres? Reminds me of the story about the American boasting to the old Irish farmer that he couldn’t drive over his land in one day. The Irish farmer replied “yes sir, we used to have a car like that too”!
Why not?
Bull McCabe comes to mind.
*Maine, New Mexico…tut
Lee
Explain please?
“…..position as one *OF* Ireland’s leading five star hotels”.
You’re welcome.
…..almost there Jack. Now just to capitalise the ‘N’ in New Mexico and you’re all set.
Thanks Sheldon ;)
No worries ;)
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