A partnership headed by U.S. billionaire John Malone reportedly has paid more than €150 million (US$168 million) for a portfolio of three Dublin hotels.
The John Malone Partnership (JMP) comprising John Malone, Paul Higgins and developer John Lally’s Lalco acquired the Spencer, Morgan and Beacon hotels from the Fitzpatrick Lifestyle Hotels group and Patron Capital Partners.
Malone’s partnership already owns the Westin in Dublin, the Hotel InterContinental in Ballsbridge, the Trinity City Hotel, the Hilton Dublin and the Limerick Strand. The partnership also manages the Lalco Hotels Galway Harbour, Glenlo Abbey Hotel and the Barnacles Hostels.
The deal follows the recent €92m (US$103 million) sale of the Gresham Hotel to Spain’s Riu Hotels and Resorts.