The Ascott Limited acquires Dublin’s Temple Bar Hotel
Global serviced apartment provider The Ascott Limited has purchased the Temple Bar Hotel, a popular property in the centre of Dublin, for over EUR55 million.
Mr Lee Chee Koon, Ascott’s chief executive officer, said, "Europe is a key market for Ascott’s global expansion. Ireland’s pro-business environment has attracted some of the world’s biggest companies such as Google, Facebook, Microsoft and LinkedIn to establish their European headquarters in Dublin."Ireland is also used as a launch pad to the EU by many US companies and the US is amongst Ascott’s top source markets globally."The acquisition will boost Ascott’s EUR1.2 billion portfolio in Europe and bring us closer to our target of 10,000 units in the region by 2020." Mr Alfred Ong, Ascott’s managing director for Europe, said, "Ascott has built a strong presence in Europe as one of the region’s largest international serviced residence owner-operators. We look forward to bringing our signature hospitality to Ireland with a centrally located and quality accommodation in Dublin for our corporate and leisure guests."This deal ends a year in which Ascott achieved record growth with more than 10,000 apartment units added globally, as well as launching Lyf (live your freedom), a new brand designed for and managed by millennials.