Cork-based hotel management company Cliste Hospitality has announced that it has acquired Belfast's Radisson Blu Hotel for an undisclosed sum.
The deal was completed on Wednesday in partnership with real-estate investment firm Warren Private. It is the second time these two companies have partnered on an acquisition.
The hotel has 120 bedrooms, a bar, restaurant, and extensive conference facilities.
It is now set to be rebranded as The Gasworks Hotel and will undergo a £3.5m (€4.08m) refurbishment over the coming nine months. This will include a complete refurbishment of the hotel reception, bar and restaurant, conference facilities, and guest bedrooms.
Once the refurbishment is complete, the hotel will partner with InterContinental Hotels Group, whose brands include the Crown Plaza as well as Holiday Inn, becoming part of the chain’s voco brand.
Cliste Hospitality already manages 13 hotels in the Republic of Ireland under the iNUA Collection brand which includes the Dublin One Hotel, the five-star Muckross Park Hotel and Spa in Killarney, and Radisson Blu hotels in Cork, Limerick, Athlone, and Sligo.
Paul Fitzgerald, chief executive of Cliste Hospitality, said this latest acquisition marks the company’s first hotel investment in Northern Ireland and it is keen to become a “significant part of the community in the city”.