RIU Acquires Dublin's Gresham Hotel for €92 Million ($103.4M)

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. September 19, 2016

DUBLIN, R.I. September 19, 2016 - RIU has completed the purchase of the historic Gresham Hotel on O'Connell Street, one of the most famous in Dublin, for €92 million. The hotel occupies a majestic building approaching its 200th anniversary and, thanks to a recent renovation, it offers the best of the Irish capital city's tradition and history, with modern and up-to-date services.

The Riu Plaza The Gresham Dublin hotel has 323 rooms and suites, 20 function rooms, a restaurant and a bar, as well as an unbeatable location in the centre of the city. Its facilities are a short walk from famous Dublin sights such as the River Liffey crossing the heart of the capital, Croke Park, Dublin Castle, the iconic Temple Bar and the Henry Street shopping area. It is also 20 minutes from the airport and very close to the new Convention Centre of Dublin.

"Dublin is now one of the most interesting cities for investment. Its tourism industry is booming, demand for rooms rising and the city is putting a lot of money into its infrastructure. We are extremely pleased with the purchase of this hotel in one of the most beautiful European capitals. We are sure that it will be the perfect addition to our collection of Riu Plaza hotels and many returning RIU clients will be drawn to discovering this destination with us", says Luis Riu, CEO of RIU Hotels & Resorts.

As well as being an attractive building, it was also renovated in 2013. As a result, it will need only a few minor adjustments for the facilities to represent the RIU brand and standards.

Ireland has been welcoming record numbers of tourists over recent years. Between January and June this year it was visited by 4.4 million foreign visitors, representing a 13% increase on the same period in 2015. The country is known for its history and beautiful landscapes, while the Irish are renowned for being generous and hospitable. This all makes the country, and its capital, a very attractive tourist destination, in particular for European visitors.

This Irish addition to the collection of Riu Plaza urban hotels will extend RIU's list of international destinations. The hotel is set to become RIU's second city hotel in Europe, after the Riu Plaza Berlin opened in September 2015, and the brand's sixth in all. Together with Riu Plaza Panama, Riu Plaza Guadalajara, Riu Plaza Miami Beach and Riu Plaza New York Times Square, they currently make up the urban hotel line of RIU Hotels & Resorts.

About RIU Hotels & Resorts

The international RIU chain was founded in Mallorca by the Riu family in 1953 as a small holiday firm and is still owned by the family's third generation. The company specialises in holiday resorts and over 70% of its establishments offer its acclaimed All Inclusive by RIU service. With the inauguration of its first city hotel in 2010, RIU is expanding its range of products with its own line of city hotels called Riu Plaza. RIU Hotels & Resorts now has more than 100 hotels in 18 countries which welcome over 4 million guests a year and provide jobs for a total of 27,268 employees. RIU is currently the world's 29th ranked chain, one of the Caribbean's most popular, the largest in Spain in terms of revenue and the third largest in number of rooms.

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