ETAP Hotel put up for sale at £7m
Belfast’s budget ETAP Hotel has been put on the market with city centre has been placed on the market.
The 146-bedroom ETAP Hotel on the Dublin Road has been put on the market for £7.175m.
The seven storey hotel was built in 2013 and was sold to CBRE Global Investors for £6.6m in 2016.
Gavin Elliott, senior director at selling agents CBRE Northern Ireland said the sale presented a strong opportunity at “an exciting time for the Belfast hotel sector”.
Mr Elliott said: “It has been a good year for the hotel industry in Northern Ireland with occupancy levels rebounding to those last experienced in 2019 and average room rates continuing to perform at record highs.
“By May 2023, the revenue per available room in Belfast was up 52% against the same period during 2019, showcasing the growth in this sector.
“With a number of other new schemes announced in recent months, it is clear there is room and an appetite for further growth”.
Earlier this year, data from the Northern Ireland Statistics and Research Agency (NISRA) showed that the number of hotel rooms sold had soared by 62% within a single year.
The hotel is currently leased to Accor UK Business & Leisure Hotels Limited, part of Accor Invest, one of the world’s leading hoteliers.
Accor operates over 760 hotels in 27 countries, including two other outlets in Belfast operating under the Ibis brand.
Mr Elliott added: “Situated at the very heart of the city centre, this hotel represents an opportunity to purchase a property that is already let to a globally recognised brand and is situated within a well-established and vibrant commercial and leisure district.
“Within walking distance from Belfast’s main bus and train stations, city centre core and the central business district, the hotel has proven exceptionally popular with external and domestic tourists as well as business travellers in the decade since it opened”.
According to the listing the existing lease with Accor is set to expire in 2030.
