A well-known Co Dublin coastal hotel has been sold by the family that have owned it for 50 years in a deal worth €55m (£46.4m).
The Grand Hotel in Malahide is being purchased by FBD Hotels and Resorts, which owns hotels in Ireland and Spain.
The hotel has been in operation since 1835 when it was opened by James Fagan, a member of the UK Parliament. It had the title “royal” under warrant, before changing names in the early 1900s to “Grand”.
When it was bought by the Ryan family in 1974, the hotel employed 12 staff. The family have since added a conference centre and a large number of bedrooms.
Today, the Grand hotel is a four-star location with 202 rooms that employs more than 200 people. It is close to Dublin Airport and Dublin city.
The Ryan family said they were “proud to have been part of the remarkable history of this iconic hotel, which has stood as a beacon of hospitality and tradition for so many years”.
“We extend our heartfelt gratitude to our loyal guests and dedicated team who have made this journey unforgettable.
“As we pass the torch to new ownership, we do so with confidence, knowing that the buyer’s vision, values, and record aligns with the legacy we have carefully nurtured.
“This transition marks an exciting new chapter for the hotel, offering new opportunities to be embraced and new dynamics for current and future customers to experience.”
FBDH&R owns and operates four hotels in Ireland and two resorts near Malaga in Spain. It also has a number of golf courses and residential properties in La Cala, and employs 1,705 people.
David Kelly, FBDH&R chief executive said: “We are delighted to have reached agreement with the Ryan family.
“The Grand Hotel in Malahide is an iconic hotel located in one of Ireland’s most unique settings.
“We are honoured to be entrusted with the stewardship of this historic hotel, whose rich heritage and enduring legacy have made it a symbol of excellence in hospitality.
“The Ryan family and 200 strong team at the Grand have done an excellent job in preserving the timeless charm and traditions that have made it a venue of choice for many over the decades.
“We look forward to adding to this storied history. Our team has a proven track record in welcoming new colleagues and investing in opportunities for growth.
“Underpinned by a strong balance sheet, innovative team, and forward-focused ownership, we look forward to further adding to the Grand Hotel as a treasured destination in the decades ahead.”