Did You Hear The One About The Luxury Hotel?

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The set up…

DUBLIN’S BURLINGTON Hotel, bought by property developer Bernard McNamara at the peak of the property boom in 2007 for €288 million, is back on the market with a guide price of €65-€75 million.

Mr McNamara has been one of the biggest casualties of the property crash with overall debts of €1.5 billion.

And now. The punchline…

Paul Collins, of CBRE Hotels, said yesterday there had been a remarkable recovery in the Dublin hotel market, and city hotels were now among the best-performing in Europe.

Beautiful.

Burlington Hotel on market for one-quarter of 2007 price (Jack Fagan, Irish Times)

(Sasko Lazarov/Photocall Ireland)

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