THE LITTLE KNOWN but highly successful Dublin City Inn just off O’Connell Street in the city centre is the latest business premises owned by a Paddy Kelly-led consortium to be put into receivership.

Now Tom Barrett of Savills is seeking €1.95 million for the 60-bedroom inn which is being sold on the instructions of Kieran Wallace of KPMG.

With an annual occupancy rate of 80 per cent, the inn on Talbot Street is quite profitable simply because it functions only as bed and breakfast business. It is located over high street shops and apart from the single and double bedrooms, the facilities also include a lounge area, breakfast room with seating for 48 guests and an outdoor terrace.

Room rates are €50 to €60 midweek and €80 to €100 at weekends. The budget-style hotel attracts a broad mix of Irish and overseas visitors and is frequently booked out during popular entertainment and sporting events in the city.

Barrett said the Dublin City Inn had a simple but highly profitable business strategy which a new owner could follow with similar success, particularly as tourism numbers continued to grow in the city. There was also scope to increase the average room rate in the future.

The inn previously traded as Days Inn and is currently managed by the Prem Group. A new owner will have the right to decide how it is managed.