Fitzpatrick seeking to expand hotel chain in Washington or New York
He already owns two hotels in New York — the Grand Central and the Fitzpatrick Manhattan, where a €7 million refurbishment programme has just been completed.
“I’d like another hotel somewhere in New York or Washington. I’m notinterested in anywhere else,” he said.
Mr Fitzpatrick said herecently received a “huge offer” for his New York hotels that he decided to turn down.
The Irish hotelier said he has received a couple of offers over the years but recently received an “unbelievable offer”.
“Some of my board of directors asked me was I crazy to turn it down but what would I have done if I sold? Sit on the beach all day?” he said.
Mr Fitzpatrick said that unless he receives a stupid offer in the future he’s in it for the long-haul.
“We’re always looking for places. We’ve had a good few years and we looked at two buildings six months ago but I walked away from it,” he said.
“It was a good deal but not as good as I felt it could have been and people thought I was mad.”
Mr Fitzpatrick said people had said he was greedy, but he was adamant that unless he got it for the price he wanted he was not willing to buy.
“Thank god now we walked away,” he said.
“I think there has been some major deals done here over the last two years that will be in trouble,” he said.
The Fitzpatrick Hotel Group was founded in 1971 by John’s father, Paddy, who dropped out of Blackrock College without completing his Leaving Certificate and ended up becoming one of Ireland’s top hoteliers.
His first was the Killiney Castle Hotel in Dublin, which he bought in 1971. He died six years ago but had divided up the hotel group between his sons and daughter before his death.
