Pan-European private equity real estate investor Deutsche Finance International (DFI) and real estate manager BCP Capital have signed an agreement with lifestyle hospitality company Ennismore to operate the Central Hotel, in Dublin, as Ireland’s first Hoxton.
DFI and BCP Capital acquired the Central Hotel on Exchequer Street in 2019 and intend to undertake an extensive refurbishment and expansion of the site to deliver a 129-room Hoxton, which is due to open in 20204.
Irish interior designer Bryan O’Sullivan is working alongside Ennismore and BCP Capital on the redevelopment, which will see a significant increase in the existing bar, night venue and restaurant space, including a revitalized Rí-Rá nightclub and The Globe bar. The project is being financed with a loan from a fund managed by an affiliate of Apollo Global Management.
Paul Nearchou, managing director of DFI, said: “Operational excellence underpins our asset management approach at DFI and we are therefore very pleased to be bringing a brand of The Hoxton’s stature to Dublin. To have secured this agreement in the current market is a strong endorsement of this project’s potential by all involved and, through the redevelopment of the Central Hotel, we want to reinvigorate this historic area of Dublin’s vibrant city centre in keeping with its heritage.
“With a portfolio of eclectic boutique hotels and a focus on creating curated spaces reflective of their local surroundings, The Hoxton is the ideal partner to optimise our vision for this project.”
Rob Andrews, chief operating officer of The Hoxton at Ennismore, added: “Dublin is an exciting, cosmopolitan city, and a celebrated business and tourist destination. We are passionate about making the local culture and charm of the neighbourhood part of the fabric of our hotel. The Central Hotel building fits perfectly within our portfolio, thanks to its unique heritage and character. Ireland is celebrated all over the world for its warm hospitality, a defining quality we also pride ourselves on. We look forward to working with Deutsche Finance International and BCP Capital on this project and opening our doors to local and international guests alike.”
Nick Cullen, chairman of BCP Capital, said: “Our vision for the Central Hotel project is to create a social and cultural hub that enhances the vibrancy of the city centre. The Hoxton is a renowned lifestyle hotel operator whose ‘open house’-style hotels are inclusive spaces, designed as meeting places for local communities as well as guests. The hotel will have a strong food and beverage focus, with five different offerings, including a revitalized Rí-Rá nightclub.”
