Delight as Tower Hotel sold for over £4m

The Tower Hotel in the city centre has been sold to Dublin-based hotel group Dalata.
The Tower Hotel in the city centre has been sold to Dublin-based hotel group Dalata.

The manager of Derry’s Tower Hotel has expressed his delight after it was purchased by Ireland’s largest hotel group.

The Dalata Hotel Group plc has just announced that it has entered into agreement to acquire the Tower Hotel in Derry, with the deal due to be completed next month.

The company has agreed to acquire the freehold interest in the Tower Hotel, Derry, for a consideration of £4.375 million.

Mike Gatt, general manager of the Tower, told the Journal: “I am very excited.

“The largest hotel company in Ireland is now making its presence known in Derry.

“We are delighted to be colleagues with these guys and look forward to developing the hotel for years to come.”

The purchasing of the hotel is expected to be welcomed by all 50 staff currently employed at the hotel, and a major revamp of the 4 star hotel, including all 93 en-suite bedrooms is expected to begin soon.

The hotel- which last year posted profits of £500,000, will now incorporate ‘Maldron’ in some form in its name.

Pat McCann, Chief Executive Officer of Dalata said: “We are delighted to finally have a hotel in Derry-Londonderry.

“We are excited at the prospect of bringing new business to a city that has seen many positive changes in recent years.

“The Tower Hotel will be rebranded to Maldron.

“As part of a rapidly growing hotel group, our new colleagues can expect many opportunities for career development.”

As well as almost 100 hotel rooms, the Tower also gas a bar & grill, restaurant and five conference rooms.

The new owners already operate the Maldron Hotel Belfast.

The Tower Hotel went on the market in June this year with an asking price of £3.75m

The sale details contained planning permission for an additional 52 bedrooms.