"'People have made lots of money from these hotels. But when they get them back, they know refurb costs will be huge and they don't have the appetite,' Talbot MD Philip Gavin said"
"The Talbot Collection hotel group plans to continue its expansion and buy more hotels and is eyeing up former hotel properties coming to the end of direct provision contracts with the State as it looks to continue a nationwide expansion."
"The Wexford-headquartered group confirmed last week that it is buying its seventh hotel, the 99-bedroom Absolute Hotel in Limerick city for €18m."
The Talbot Collection is expanding nationwide and intends to acquire additional hotels. The group has purchased the 99-bedroom Absolute Hotel in Limerick for €18 million, increasing its portfolio to seven properties. The company is targeting former hotel sites that are reaching the end of direct provision contracts with the State. Anticipated refurbishment costs for returned properties are expected to be substantial, limiting interest from prior operators to re-enter ownership. The Talbot Collection is headquartered in Wexford and continues to pursue growth opportunities across Ireland's hotel sector.
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