Dublin five-star hotels test investor demand
Two major five-star hotels in Dublin are up for sale, testing investor appetite amid strong tourism growth. The Morrison Dublin and Conrad Dublin are on the market, with guide prices of €90M-€95M and €130M respectively. Both properties have seen recent refurbishments and expansions, with the Conrad also securing planning permission for further growth.
Two five-star hotels in Dublin are being put up for sale, testing investor interest in the city’s high-end hospitality sector. The Morrison Dublin, Curio Collection by Hilton, is on the market with a guide price of €90M to €95M, while the Conrad Dublin is expected to sell for around €130M. Both properties have seen significant investment in recent years, with strong occupancy rates and expansion plans.
The Morrison Dublin: A high-performing asset
The Morrison Dublin, owned by Zetland Capital, has been listed for sale by CBRE. The hotel, located on the north quays, has 157 bedrooms and suites and is trading at over 90% occupancy. Zetland Capital acquired the property for about €65M in 2021 and recently completed an €11.25M refurbishment, expanding it from 145 to 157 guest rooms. After repositioning it under Hilton’s Curio Collection, the hotel was upgraded to five-star status in 2023. CBRE previously described it as one of Dublin’s most consistently high-performing hotels, with further upside potential.
Conrad Dublin: Expansion plans and strong performance
The Conrad Dublin, operated by Hilton Hotels, is also up for sale, with Archer Hotel Capital appointing CBRE and Eastdil Secured Savills to advise on the disposal. The 192-room hotel, located on Earlsfort Terrace, was acquired by Archer in 2019 for around €115M. It has permission to expand, with Dublin City Council approving plans in April to increase the hotel from 192 rooms to 308 through an eight-storey extension. Previous plans to expand to 280 rooms were shelved due to construction costs and viability concerns. Archer, a specialist European hotel investment vehicle jointly owned by Dutch pension investor APG and Singapore sovereign wealth fund GIC, also owns The Shelbourne, acquired from Kennedy Wilson in 2024.
Strong tourism growth drives market momentum
The potential disposals come as Dublin’s hotel investment market gains momentum, driven by strong inbound tourism numbers. According to the Central Statistics Office, 670,300 foreign visitors completed a trip to Ireland in June 2026, a 2% increase compared with June 2025. Year-to-date overnight visits by foreign residents were estimated at 3.2 million, a 15% increase compared with the first half of 2025.
In July, the John Malone-backed MHL Hotel Collection agreed to acquire the Crowne Plaza Dublin Airport and the Holiday Inn Express Dublin Airport from Tifco Hotel Group for about €100M. The transaction, handled by CBRE Hotels and JLL, was described as the largest-ever hotel sale completed at Dublin Airport. MHL has been one of the most active buyers in the Irish market and recently completed a €190M refinancing with AIB covering four hotels, including College Green and Trinity City in Dublin.
Meanwhile, developer Dairy Hill Property has lodged plans for a 37-bedroom, five-star boutique hotel on Lower Baggot Street. The proposal would convert a former Ulster Bank site into a hotel with a restaurant, bar, and basement speakeasy, involving the demolition of the buildings at 33-37 Pembroke Street Lower to make way for a six-storey, over-basement extension.
