John Malone, the billionaire behind UPC-owner Liberty Global, has bought the five-star Westin Hotel in Dublin for €65 million. The acquisition is expected to close at the end of August 2014.
The Westmoreland Street hotel will be operated by Lalco Hotel Group under a franchise agreement with Westin Hotels & Resorts.
The Westin is the third hotel in Dublin to be acquired by Mr Malone and his Irish partners Lalco, operated by John Lally and Paul Higgins. The others are the Trinity City Hotel, Pearse Street and Hilton Hotel, Charlemont Place.
Lalco Hotel Group employs 1,100 people. As well as three hotels in partnership with Mr Malone, it also runs the Limerick Strand Hotel, the Harbour Hotel in Galway and the Glenlo Abbey Hotel and Golf Club among others.
The company, under a lease from the Benedictine sisters of Kylemore Abbey, also operates the visitor attraction, restaurants, shop and walled gardens at Kylemore Abbey in Connemara.
Other investments
Mr Malone is chairman of Liberty Global. His other investments include the Discovery Channel, QVC shopping channel, TripAdvisor and
Virgin Media
.
He is the largest individual landowner in the United States with 2.2 million acres in Maine, Maryland, New Mexico, Colorado and Wyoming.