Tallaght Cross Hotel set to re-open and create 70 jobs
By Maurice Garvey
AN AUSTRIAN investor has bought the Tallaght Cross Hotel, which was developed by Nama-bound builder Liam Carroll in 2008, and which remained closed for almost a decade.
Businessman Thomas Roeggla, who has assembled a portfolio of about 13 Irish hotels over the last five years, operating under the TMR Hotel Collection banner, intends to re-open the hotel next year creating about 70 jobs.
The 186-bedroom Tallaght Cross was sold to him by an unnamed investor who bought it from Nama about four years ago.
An associated apartment development was previously acquired from Nama by Ires Reit.
Mr Roeggla has assembled his TMR portfolio, with properties mostly in regional locations, in conjunction with his local representative, Davy Real Estates.
It manages his Irish investments using a tax-efficient Icav structure.
In a statement issued about Tallaght Cross Hotel, TMR said that it is now planning a multi-million euro refurbishment of the hotel with ‘exciting new plans’ to open for trade as a four-star hotel in early 2020.
The statement added: “The re-opening of Tallaght Cross Hotel is expected to create upwards of 70 permanent direct jobs locally and to support a multiple of that in indirect employment in the tourism service abnd supply sectors”.
Most of TMR’s hotels are managed by Windward Management, which is run by former Gresham hotelier, Patrick Coyle.
Earlier this year, TMR purchased the Plaza hotel, also in Tallaght, and Harvey’s Point hotel in Donegal.
TMR says its three Irish purchases in 2019 will comprise a total outlay of about €60 million including acquisition costs and further investment.
Mr Roeggla’s other Irish hotels include the Mount Wolseley golf club in Carlow, the Cavan Crystal hotel, the Connemara Coast in Galway, and the Aghadoe Heights hotel and spa resort in Killarney.
