Leumi UK has signed a €42.6 million – around £37.6 million – deal to refinance the Morrison Hotel, a 145-room Hilton Curio-branded hotel in Dublin.
The loan facility, which has a term of five years, has been agreed with Centauro Investment XI SARL, an SPV owned by Zetland Capital.
Zetland bought the hotel in 2021 in a deal worth more than €65 million, around £57.4 million. It was formerly owned by Russian billionaire investor Elena Baturina, who bought it in 2012 for €22 million, around £19.5 million.
What they said
Liam Mullans, relationship director at Leumi UK said: “This is an excellent opportunity to support an experienced and capable team operating in the UK Hotel market. Leumi UK has an appetite in Europe, and Dublin - which is considered to be one of the strongest locations in Europe for leisure and corporate demand - offers a compelling setting for investing in the hotel sector.”
Patrick Joyce, general manager of Morrison Hotel added: “Dublin is an extremely attractive tourist hotspot, offering one of the strongest locations in Europe for leisure and corporate demand. Leumi UK’s financial support, alongside the expert advice provided by their hotel finance team, will be invaluable as we continue to expand on the Morrison Hotel’s success as one of Dublin’s finest upper scale hotels.”