It will be Ireland’s fourth largest hotel upon completion. The new hotel will provide employment for 250 people, while an additional 150 new jobs will be generated during the construction phase of the project.
Planning permission for the 11-storey building has already been granted. DAA has appointed property consultant Savills Hotels & Leisure to seek expressions of interest for the project, which will be developed under a finance, build operate and transfer (FBOT) model. The successful bidder will construct the hotel and operate it for a specified period of time, before transferring it back to DAA at the end of the agreed term. Construction is expected to begin next October and the property is due to open in 2019.
It will occupy a prime 0.81-acre site between Terminal 2 and the T2 multi-storey car park – and will be located just 95m from Terminal 2.
Between 2010 and 2015, only four hotels were built in Dublin, providing just 594 bedrooms. The Irish Tourist Industry Confederation warned last year that that Dublin requires a further 5,000 hotel bedrooms by 2020 to meet demand.
Savills Ireland director of hotels and leisure Tom Barrett said that there was likely to be significant market demand for the new Dublin Airport hotel development. “This is a hugely exciting project. If this hotel was trading today, it would be one of the strongest performing hotels in Ireland. Given the unique high profile location and the quality of the offering we anticipate strong interest from developers, investors, hoteliers and brands.”