Shelbourne Hotel in Dublin sold to Archer Hotel Capital

International news
The five-star Shelbourne Hotel in Dublin has been sold to European investor Archer Hotel Capital, which also owns the Conrad Hotel on the other side of St Stephen’s Green.

In a stock-market filing, Kennedy Wilson announced the sale of the Shelbourne, along with an office building in Washington and a retail asset in the UK for a combined $335 million (€311 million). The sales yielded a gain of $120 million for the company and cash proceeds of $238 million, after debt is repaid, the California-based company said.

The Shelbourne was for sale with a reported price tag of €260 million, with one source indicating that the sale was agreed for slightly under that level.

Originally established in 1824, the Shelbourne overlooks St Stephen’s Green and has 265 bedrooms, along with restaurants, bars and event facilities. The property is managed by Marriott International under a contract that runs to 2026.