Kennedy Wilson acquired the Shelbourne Hotel from Nama in 2014 for about $152m and spent €36m refurbishing it. Accounts for Kennedy Wilson Europe Real Estate show that the Shelbourne generated revenue of £10.7m (€12.2m) 2020. The valuation placed on the Shelbourne Hotel at the end of 2020, assumes a normal operating environment and occupancy of 89pc. Kennedy Wilson Europe Real Estate holds assets in the UK, Ireland, Italy and Spain. Kennedy Wilson has significant property interests in Ireland across residential and commercial assets.

Source: Irish Independent May 01, 2021 01:30 UTC