"'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 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 pursuing continued nationwide expansion through hotel acquisitions and targeting properties becoming available as direct provision contracts end. The Wexford-headquartered group confirmed the purchase of its seventh property, the 99-bedroom Absolute Hotel in Limerick, for €18 million. Managing director Philip Gavin said many parties profited from operating these hotels but face substantial refurbishment costs and lack appetite to reinvest when contracts conclude. The group is actively assessing former direct-provision hotel properties as acquisition opportunities while maintaining a strategy of growing its portfolio across Ireland.
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