Tetrarch Capital launches hospitality management arm and plans to build Dublin aparthotel
Ireland: Property investment fund Tetrarch Capital is to place its hospitality business into a separate division and build a Dublin aparthotel.
Tetrarch Hospitality will be led by Damien Gaffney, the group's
current chief investment officer of the overall group. Glenn
Valentine, general manager at the company's Citywest Hotel, will
become director of operations.
About 55 per cent of Tetrarch's portfolio is made up of hotels and
apartments. Tetrarch Hospitality will manage Mount Juliet, Citywest
Hotel, The Dawson Hotel, Killashee House Hotel, Mount Wolseley,
Clonmel Park Hotel and Jacob's Inn.
Gaffney said: "We've made a number of excellent additions to our
hospitality and leisure portfolio this year, and as we approach
2016 we're very positive about the opportunity to undertake further
compelling acquisitions. I'm really looking forward to leading the
team over this next phase as we look to increase the scale and
breadth of our portfolio and the income we generate across all
forms of accommodation assets."
Tetrarch also revealed plans to build an aparthotel at a site it
owns on Mark Street, close to Dublin's Trinity College.
"The Dublin aparthotel market is under-supplied and Tetrarch
Capital sees very strong latent demand for this type of
accommodation from domestic and international travellers,
particularly from visiting families," the company said.
tetrarchcapital.com