FBD Hotels eyes bounce back with €25m purchase

The group has agreed to buy the four-star Killashee Hotel from Tetrarch Capital

Group CEO David Kelly said the business has weathered the last two years and is ready to grow. File picture

Hotel group FBD Hotels & Resorts is to expand through the €25m acquisition of the Killashee Hotel in Co Kildare.

The group has agreed to buy the four-star property from Tetrarch Capital and the deal will add 300 staff to its already 900-strong workforce. FBD Hotels already owns five hotels in Ireland and Spain, including Faithlegg Hotel in Waterford, the Heritage Hotel and Spa in Laois, Castleknock Hotel in Dublin, and the Sunset Beach Club in southern Spain.

Group CEO David Kelly said the business has weathered the last two years and is ready to grow.

'Positive performance'

“Our overall performance continues to be positive. As a sector, the past two years have presented unique challenges but underpinned by a strong balance sheet, a committed team, and forward-focused ownership, we used the period well and are ready for the next phase of growth right across our portfolio”, he said.

The FBD Hotels announcement follows the Dalata Hotel Group announcing its first hotel in Germany earlier this month.

In a separate sign of tourism recovery, a survey last week showed that Irish B&Bs expect a significant recovery in visitor numbers this summer following the relaxation of international Covid restrictions, with 74% anticipating an increase in bookings.