Developer John Lally’s Lalco has sold the Hilton in Kilmainham, Dublin to Tifco Hotel Group,acording to a report in to-day,y 'Irish Times'.
Tifco confirmed that it had bought the property, which it will continue to operate as a franchise under the Hilton brand. As a result, it will both own and manage the hotel.
The group has a similar arrangement with the InterContinental Group, from which it has franchised the Crowne Plaza brand, under which three of its properties, in Dublin and Dundalk, Co L
outh, are run.
The deal means that the Kilmainham hotel is also joining the same stable as the five-star Heritage in Killenard, Co Laois; Clontarf Castle in Dublin; and the Metropole in Cork, which are among the properties Tifco manages.
Lalco owns and runs seven hotels in Dublin, Galway and Limerick, including the five-star Westin in the capital and Kylemore Abbey in Connemara.
Lalco has agreed a deal with Nama under which it will repay its debts to the State agency by 2020.
Tifco owns and manages a portfolio of five-, four- and three-star hotels in Ireland and Germany under a number of brands.