Brochure notes that 208-room hotel has 70% occupancy, average room rate of about €114 nightly and net profit of €3.4m
The McGettigan Group, the hotel and hospitality business owned by the McGettigan family, is looking to sell its 40-storey five-star Dubai hotel.
According to a brochure, the sale includes the freehold with an asking price listed as 236 million AED , equivalent to nearly €60 million.There’s no real competition in Irish banking The hotel was built by the McGettigan family on what Dennis McGettigan once described in a newspaper interview as “a patch of sand” his father Jim bought in 2005.Dennis McGettigan has run the hotel since it was opened in 2010, with the name Bonnington name taken from a hotel the family had previously owned in London. Mr McGettigan declined to comment on the sale.
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