Multiple industry sources said agents JLL and Eastdil had been approached by private-equity giant Deutsche Finance International and property investor BCP Capital about putting the historic site on the market.
One source said the property agents plan to put the hotel on the market for around €100m. The site is being renovated as a Hoxton hotel brand, due to open later this year.First opened in 1887, the Central Hotel on Dublin’s Exchequer Street was considered one of the capital’s best-known hotels.
The building was designed by Richard Millar and William Symens, who also designed Parliament House on College Green, now Bank of Ireland.
Financial details of the acquisition were never disclosed
In July 2019, Deutsche Finance International, in a joint venture with BCP Capital, acquired the Central Hotel. The Gerry Conlon-led Bridlewood Family Trust previously owned it.
Financial details of the acquisition were never disclosed. However, the property had been put on the market in October 2018 for €40m. At the time, it had 70 rooms across four floors.
The Central Hotel on Exchequer Street, Dublin 2. Photo: Colin O’Riordan
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Deutsche Finance and BCP Capital planned to refurbish the building, adding rooms and improving its food and drinks offering.
The acquisition was Deutsche Finance’s first significant investment in Ireland and followed the closure of its inaugural fund, DFI European Value-Add Fund, with €436m of equity, including co-investment.
In 2022, Deutsche Finance and BCP agreed a long-term deal with hospitality group Ennismore to operate the hotel as the country’s first Hoxton hotel. The plan would see the hotel renovated and restored, including its famous Library Bar, and extended to 129 bedrooms.
The Library Bar at the Central Hotel in Dublin. Photo: Colin O’Riordan
Hoxton hotels are known for their modern, premium design and are largely focused on young professionals. The brand already operates across several locations globally, including in London, Paris, Edinburgh, Amsterdam, Barcelona, Rome, Chicago, New York, Portland and Los Angeles.
Earlier this year, Ennismore announced The Hoxton in Dublin would open this winter. It had initially been planned to open in 2024.
The announcement revealed the hotel would have an open lobby, a cafe and wine bar and a new restaurant concept. It would also host a late-night music venue, marking a first for The Hoxton brand.
The Hoxton hotel brand is part of the Ennismore group, which also counts 25hours Hotels, Mama Shelter, Mondrian and SLS among its portfolio.
Founded in 2011 by Sharan Pasricha, Ennismore operates over 180 hotels and resorts, with 140 more in the pipeline. The group also has 500 restaurants and bars.
Ennismore entered a joint venture in 2021 with Accor, in which the French hospitality giant holds a majority shareholding.
JLL, Eastdil, BCP, Deutsche Finance International and Ennismore did not respond to a request for comment.