Real estate investor Deutsche Finance International and real estate manager BCP Capital have signed a long-term agreement with Ennismore to operate the Central Hotel as the Ireland's first Hoxton hotel.
The 129-room hotel on Exchequer Street in Dublin city centre is scheduled to reopen under the Hoxton brand in 2024.
DFI and BCP Capital acquired the hotel in 2019, and refurbishment and expansion plans incorporating the hotel, its Library Bar and neighbouring buildings are currently in development.
The existing bar, night venue and restaurant space, incorporating Ri-Rá nightclub and the Globe Bar, will be expanded, and the redevelopment is being financed with a loan from a fund managed by an affiliate of Apollo Global Management.
"We are confident in the long-term fundamentals of the Irish market, and look forward to closely collaborating with Ennismore to bring The Hoxton to Dublin and creating an iconic, cultural and social space for people to enjoy in the heart of the city centre," said Francesco Orofino, investment vice president at DFI.
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Hoxton operates three hotels in London and has expanded into Paris, Amsterdam, Barcelona, Rome, Chicago, Williamsburg, Portland, and Los Angeles, with further openings planned in Brussels, Edinburgh, Berlin and Vienna.
"Our vision for the Central Hotel project is to create a social and cultural hub that enhances the vibrancy of the city centre," added Nick Cullen, chairman of BCP.
"Hoxton is a renowned lifestyle hotel operator whose ‘open house’-style hotels are inclusive spaces, designed as meeting places for local communities as well as guests. The hotel will have a strong food and beverage focus, with five different offerings, including a revitalized Rí-Rá nightclub.
"Irish interior designer Bryan O'Sullivan will deliver the hotel alongside Ennismore and BCP Capital, with a strong focus on Irish art and design and on retaining the character of the hotel and its much-loved Library Bar. We are also pleased to announce that The Globe bar will be retained as part of the redevelopment.”
Rob Andrews, chief operating officer of the Hoxton brand at Ennismore, commented that the Central Hotel will fit well within the Hoxton portfolio.
Paul Nearchou, managing director of DFI, said that to have secured the agreement with Ennismore in the current market is a strong endorsement of this project’s potential by all involved.
"Through the redevelopment of the Central Hotel we want to reinvigorate this historic area of Dublin’s vibrant city centre in keeping with its heritage," he stated.
"With a portfolio of eclectic boutique hotels and a focus on creating curated spaces reflective of their local surroundings, Hoxton is the ideal partner to optimise our vision for this project.”
DFI operates on a pan-European basis, specialising in customer-facing and operational real estate, and has some €3.3bn in assets under management, while BCP Capital manages a further €1bn in assets.
The first Hoxton opened in Shoreditch in 2006 before the brand moved into continental Europe in 2015 and the US three years later. Ennismore controls 14 brands, operates 100 properties and has a further 144 in the pipeline.
Photo: A CGI mock-up of the refurbished Central Hotel, which is set to reopen as a Hoxton in 2024.
