Russian oligarch tees up €85m sale of Dublin’s Morrison Hotel

Russia’s richest woman Yelena Baturina looks set to get a little bit richer thanks to her well-timed investment in Dublin’s luxury Morrison Hotel.

Having acquired the four-star property from Nama for €22 million in 2012, the savvy oligarch is understood to have instructed CBRE’s hotel division to offer it for sale in the coming weeks at a guide price of between €80 million and €85 million.

While Ms Baturina is believed to have spent up to €10 million on the refurbishment of the boutique hotel between 2012 and 2013, a sale at those levels would see Austrian company Inteco Beteilgungs secure a gross uplift of up to €53 million – or 165 per cent – on its original investment. CBRE declined to comment on the matter when contacted by The Irish Times.

Developed originally in 1996 by the late publican Hugh O’Regan, the Morrison Hotel occupies a prime city centre location overlooking the river Liffey, within walking distance of Temple Bar, the shopping areas of Henry Street and Grafton Street, and the IFSC.

Designed by John Rocha, the boutique property comprises 145 guest rooms and suites, seven meeting and events facilities capable of accommodating up to 240 guests, as well as a state-of-the-art fitness centre.