Less than three years after it was sold for €65 million, Dublin’s luxury Morrison Hotel could be close to changing hands once again for more than €100 million.
The Irish Times understands the Morrison’s owners, Zetland Capital, have just instructed agent CBRE to quietly gauge the interest of investors in acquiring the five-star property. CBRE declined to comment on the matter when contacted by The Irish Times
Should a sale proceed at the €100 million price tag being mooted by market sources, Zetland would stand to secure a significant return on its original €65 million investment.
The London-based private-equity firm purchased the Morrison, for its part, in May 2021 for some €15 million less than the €80 million its long-standing owner, Russian billionaire Yelena Baturina, had been seeking when she put the hotel up for sale in March 2020.
‘A guy who was well respected around town’: The catastrophic story of Custom House Capital and Harry Cassidy
Will I lose out on UK pension because of UK revenue delays?
Web Summit founders Paddy Cosgrave, Daire Hickey, David Kelly set for High Court showdown
Investors seeking refuge from the not-so-magnificent seven
While that timing proved to be unfortunate for Russia’s richest woman, coinciding as it did with the onset of the Covid-19 pandemic, the Morrison still proved to be a lucrative investment for her.
Ms Baturina had acquired the boutique hotel from Nama for just €22 million in 2012. She spent a further €10 million on its refurbishment between 2012 and 2013.
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.

Vision Capital vs IRES REIT: trouble brewing at Ireland’s largest private landlord
Designed originally by Douglas Wallace Architects, the 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.
The Morrison’s accommodation is complemented by a range of bar and restaurant facilities, including Halo Restaurant, Quay 14 Bar and the Morrison Grill. It trades under the Hilton Worldwide group’s bespoke Curio Collection brand.
- Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Find The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here