Ireland: Tetrarch Capital has applied for planning permission to build a 159-unit aparthotel development off Pearse Street in Dublin city centre.
If successful the property will be leased on a long-term basis
The €25 million development, will be finished by the end of 2018, subject to planning.
Tetrarch chief executive Michael McElligott said: "Tetrarch Capital sees extremely strong demand for this type of accommodation from domestic and international travellers, particularly from visiting families.Our design team have produced an extremely high-quality proposal and we are optimistic of securing planning permission for a project that will help address the acute shortage of aparthotel accommodation for visitors to Dublin," he said.
Staycity chief executive Tom Walsh said it was the company's first purpose-built aparthotel scheme in Dublin.
In January of this year Tetrach announced plans to launch its own hospitality management company.