The iconic Shelbourne Hotel, a five-star establishment overlooking St Stephen’s Green in Dublin, has been acquired by European investor Archer Hotel Capital, which also owns the Conrad Hotel located nearby.

Kennedy Wilson, a California-based real estate company, announced the sale of the Shelbourne Hotel along with other assets, including an office building in Washington and a retail asset in the UK, for a combined sum of $335 million (€311 million). The sale resulted in a gain of $120 million for Kennedy Wilson, with cash proceeds of $238 million after debt repayment.

Originally established in 1824, the Shelbourne Hotel boasts 246 bedrooms, as well as restaurants, bars, and event facilities. It is managed by Marriott International under a contract that extends until 2026.

Commenting on the acquisition, Dominic Seyrling, co-chief executive of Archer, expressed excitement about adding the Shelbourne Hotel to their portfolio, emphasizing their commitment to investing in exceptional assets with enduring value. Archer intends to preserve the hotel's legacy while enhancing its offerings, looking forward to contributing to the next chapter in its storied history.

Archer Hotel Capital was advised by a consortium of firms including Arthur Cox, Allen & Overy, Grant Thornton, TFT, WSP, and Lockton, with financing provided by Deutsche Bank. The company is a specialist European hotel investment vehicle jointly owned by affiliates of APG Asset Management and GIC, with a diverse portfolio of 13 hotels across Europe valued at approximately €2 billion.

Kennedy Wilson had acquired the Shelbourne Hotel in 2014 through a pre-pack receivership, following a change in ownership from a consortium led by Jerry O’Reilly and John Sweeney. This consortium had initially acquired the hotel in 2004, with other members including builder and developer Bernard McNamara.