The long-delayed sale of Dublin’s Gresham Hotel is to proceed following NAMA approval of an international marketing campaign to find a buyer.

 Paul Collins of CBRE Hotels and Dave Murray of Christie & Co are to handle the sale of the O’Connell Street hotel which is expected to make in excess of €80 million – well short of the €117 million price paid for it in 2004 by Precinct Investments, a company controlled by house builder Bryan Cullen.

Irish-listed hotel group Dalata has signalled its intention to bid for the historic hotel which will also be of interest to several international hotel chains.