Pictured are, L to R: Jim McGuiness; Chris Magill, Partner, Crowe Horwath; Brian McGill and Naoise Cosgrove, Managing partner, Crowe Horwath, at the official opening of the Iveagh Garden Hotel in Harcourt Street.
Dublin’s newest hotel, the four star Iveagh Garden Hotel on Harcourt Street, hosted its official launch last night, Wednesday 11 April, 2018, after it had opened its doors earlier this year.
Crowe Horwath is proud to have worked alongside the owners of this unique hotel at each stage of the process from identifying and acquiring a suitable property to the planning, and development stages right through to the hotel opening. We also look forward to providing ongoing support for hotel management over the coming years.
The hotel, overlooking the historic Iveagh Gardens, is the first of its kind in Europe. It will source all of its energy from an underground river, running 50 metres below the hotel. Large turbines will convert power from the river Swan to meet all of the hotel’s energy requirements.
The Iveagh Garden was the first new hotel to open in the city this year and will go some of the way towards relieving some of the pressure on rooms in the capital. Currently Dublin has the highest hotel occupancy in the EU at 83 per cent.
The hotel is the latest property in the McGill portfolio which already includes the Harcourt Hotel, Harrington Hall and the Black Door cocktail and piano lounge on Harcourt Street. The McGill family, comprising Brian and Sally and their five children, are all involved in the business.
The new 4-star, 150-bedroom hotel has cost €40 million between acquisition costs and the subsequent renovation. The building they have converted was a 40-year old modern build behind a Georgian facade
Crowe Horwath assisted with the initial feasibility study, financial projections and business plan and provided assistance to help secure funding for the acquisition and redevelopment of the property as well as the initial operational phase.
Our specialist hotel, tourism and leisure team assisted in the recruitment of several key senior team members and will be supporting hotel management with monthly reporting across a range of KPIs and performance metrics.
We wish the Iveagh Garden Hotel and the McGill family every success with their new venture in what we know will be a popular addition to their growing hospitality portfolio.
If you would like to find out more about how we can support your hotel or hospitality project contact our dedicated hotel, tourism and leisure team.