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Brehon Capital Partners says it’s business as usual for Jacobs Inn

26 November 2014
26 Nov 2014 -

Brehon Capital Partners has announced that it has completed the acquisition of STAY WYSE member Jacobs Inn, a 420-bed hostel in central Dublin that has been operating successfully since 1997.

Jacobs Inn was put up for sale by CBRE and KPMG earlier this year as part of Ulster Bank’s Nadal portfolio. Prior to Ulster Bank, the hostel was controlled by Basil Good and Richard Evans.

Drachen Ltd. which was responsible for the successful operating of the hostel continues to operate Isaacs Hostel which is also a STAY WYSE member.

The strong trading performance of Jacobs Inn, as well as its prime location and the purpose-built nature of the property all contributed to its attractiveness as an acquisition investment.

According to Brehon Capital, operations will be unaffected by the new ownership and the group will continue to build on the success of Jacobs Inn.

We now plan to invest in the property to ensure that Jacobs’ continues to offer a great hostel experience and superb value for money to our guests. Operations at Jacobs’ will be unaffected by the new ownership and our guests can look forward to an even more enjoyable stay with us in the near future,” said Gillian Curran of Brehon Capital Partners.

The hostel deal – Brehon Capital’s seventh hospitality acquisition since its establishment in 2011 – is just part of the real estate private equity firm’s broader plan to continue identifying investment opportunities in Dublin. Besides the potential development of a new hostel, the group has also stated that they are looking to invest in more existing hostels in Dublin.

“We will continue to seek out investment opportunities across various sectors of the leisure and hospitality market in 2015, including a number of additional high quality and/or high potential hostels in Dublin City Centre, added Curran. “We are also considering the development of a new hostel property in the City Centre,” said Curran.