MHL Hotel Collection has agreed to acquire the Clarence Street West property from May Street Capital and the purchase will represent its first acquisition outside the Republic of Ireland, bringing its total number of hotels on the island to 14.

Previously operated as the Park Inn by Radisson Belfast, the 145-bed property is within walking distance of Belfast City Hall, Ulster Hall and Victoria Square Shopping Centre as well as the many restaurants, bars and nightlife that the Cathedral Quarter has to offer.

The Park Inn by Radisson had closed to the public during 2021 and it is understood the hotel has been contracted since then to house asylum seekers.

The acquisition is expected to complete before the end of this year and following a planned £7m (€8.2m) refurbishment programme, the hotel will re-open in first half of 2025.

Discussions are already at an advanced stage to brand the hotel as a Moxy by Marriot, making the fourth hotel owned and operated by MHL Hotel Collection under a franchise agreement from Marriott International and would become the second Moxy by Marriott within the collection.

The MHL Collection also owns the Powerscourt Hotel in Wicklow and Dublin’s five star College Green and interContinental hotels.

Paul Higgins, Partner, MHL Hotel Collection, above, said: “We are very pleased and excited to have signed contracts to acquire our first hotel in Belfast. The major £7m refurbishment will transform the hotel. We have seen how much guests love our fun and contemporary Moxy Dublin City Hotel, and we look forward to bringing the Moxy brand to the heart of Belfast.

“We also look forward to engaging with local businesses and organisations in the region so we are best placed to support the local economy and hospitality sector, not least by creating up to 60 full and part time roles”.

Moxy had previously been linked with a proposed 164-bed hotel in Belfast’s Cathedral Quarter.

Planning permission for the venture in the former Nambarrie Tea building was granted in 2022, but little progress has been made on the project since then.

The move to acquire the hotel comes just a few months after Irish hotel group iNua made its entry into the Northern Ireland market by acquiring the former Radisson Blu Hotel in the city’s Gasworks.

Donall McCann of May Street Capital added: “We are delighted to have signed contracts with MHL Hotel Collection and we look forward to welcoming them and Moxy to Clarence West Belfast.”

MHL were advised by Arthur Cox and Deloitte. May Street Capital were advised by MMW, Grant Thronton and ASM, and deal was brokered by JLL Dublin.

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The Ducales Group, who own St Anne’s Square, has announced a multi-million-pound investment into its latest hospitality development, The Foundry, which will transform the site of the original Harp Bar on Hill Street.

The Foundry will boast a 350 capacity bar and restaurant and 20 boutique hotel rooms across three floors.

General manager Jim Crawford-Smyth, above, said, “We are very excited to reinvent this historic Belfast site. We have spent a lot of time curating the concept of the hotel, while still ensuring the site itself retains its legendary status.

“With The Foundry we are challenging the traditional take of a boutique hotel while also reflecting and accommodating the bustling social scene within Belfast city centre. It is our hope that the new bar and restaurant will present the perfect hangout space, with a relaxed, sophisticated atmosphere with good food and drinks on offer.”

With the street’s former name being Foundry Street, the new venue pays homage to the history of its home and will create 40 local jobs.

In the late seventies and early eighties, the Hill Street site housed the Harp Bar, known for being the go-to for the NI punk scene with many popular bands such as The Undertones, The Outcasts, and Stiff Little Fingers regularly coming through its doors to play.

The Ducales Group brought on board the expert eye of Gordon Devenney of O’Donnell O’Neill Design’s Belfast studios, to design the building’s interiors.

The group has also commissioned commercial street artist, Visual Waste, to help with the building’s interiors to ensure The Foundry will be a real head turner.

Gordon Devenney said: “A lot of history has happened on this site that we wanted to make sure we didn’t forget and so have tried to encapsulate what that was all about whilst still injecting a modern yet classic twist with The Foundry.

“It has been a lot of fun to work with the guys on this project. The Foundry will be like no other venue or hotel in Belfast.”

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The budget hotel on Dublin Road was put up for sale by CBRE in October 2023 with offers sought in excess of £7.175m.

It’s currently leased to Accor UK Business & Leisure Hotels Limited for another 6.5 years.

Andras House, owned by the Rana family, counts the Crowne Plaza, Hampton by Hilton and Holiday Inn hotels in Belfast among in its growing portfolio.

The group also operate two Ibis hotels and are developing the 83-bed Marcus Hotel in Portrush.

Andras House is also planning two major aparthotel projects in Belfast city centre between Bedford Street and Great Victoria Street.

The InterContinental Hotels Group has signed up for 132-unit Staybridge Suites Belfast, due to open in 2027, while Andras is seeking planning approval for a similar development in nearby Dorchester House.

Belfast City Council is currently assessing the Andras proposal to convert the former HMRC offices into an aparthotel under Accor’s Adagio brand.

Commenting on the ETAP deal, Gavin Elliott, senior director at CBRE Northern Ireland, which also acted as the selling agent, said: “The hotel sector in Northern Ireland continues to be active with circa £55m invested across four sales last year and 2023 occupancy levels reaching mid-70%, therefore surpassing 2019 levels.

“We expect that 2024 will be an active year for the hotel market in terms of both investment and occupancy levels.

“This transaction underpins the strong interest we are currently experiencing in the Northern Irish Hotel sector and represents another successful sale by CBRE NI and CBRE Hotels Dublin.”

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A report by Construction Information Systems (CIS) Ireland found 13 hotel projects at various stages of development in the city during 2023.

According to the Northern Ireland Hotel Federation, there are already 39 hotels in Belfast with a total of 5,040 rooms.

Last year saw planning approval granted to another eight hotel developments in Belfast, including a 163-bedroom hotel at Centre House on Chichester Street; a 20-bed hotel on Hill Street; and a 132-unit aparthotel on Bedford Street.

Three more projects are either in pre-planning or have submitted applications, including The Dean Hotel on Bedford Street.

The Dean Hotel was announced in 2023 by Dublin’s Press Up Group. Although originally envisaged as a 91-bed project, CIS said it could eventually be developed into as many as 146-units.

According to CIS, contracts have been awarded for two of the 13 projects.

Farrans has started enabling works for JMK’s Titanic Quarter development, which will see 135 hotel bedrooms and 93 aparthotel units developed next to Titanic Belfast.

Meanwhile, it’s understood that Toomebridge-based Edgewater Contracts will be the main contractor for the new 120-bedroom in Waring Street’s former war memorial building.

The company shares the same ownership as SOM Properties, which secured planning approval last year for the Cathedral Quarter hotel.

The CIS report acknowledged that during one week in November 2023, Belfast City Council planners approved no less than five hotels.

The new hotel brands due to open in Belfast include Aloft Hotel/Residence Inn by Marriott; Staybridge Suites by IHG; Moxy by Marriott; and Voco Belfast, which is due to open in the former Radisson Blu Hotel in Belfast’s Gasworks.

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The plea comes as local authorities set their new district rates for homes and businesses, revealing increases of almost 12% in Mid and East Antrim.

Hospitality businesses are warning that, on top of inflationary pressures, and excessive VAT rates, business rates hikes will cripple pubs and restaurants when they are already burdened with higher rates per pound and receive no direct rates relief compared to similar businesses elsewhere in the UK.

A recent survey by Hospitality Ulster revealed 80% of its members want to see the business rates multiplier permanently lower for the entire sector and that the current situation is out of kilter with reality and effectively killing off businesses.

Colin Neill said: “Hospitality businesses are already under extreme pressure from rising costs in every direction, and these excessive rates hikes by local councils are yet another blow to our pubs and restaurants right across Northern Ireland.

“We have consistently made the point that the entire business rating system in Northern Ireland is unfit for purpose. It does not take into account the unique features of our sector, one that is focused on small, indigenous businesses. Business rates have held our sector back as well as our town and village centres, disincentivising investment and restricting business and jobs growth.

“Excessive hikes from our local councils are yet another blow to business owners who are already struggling to keep the doors open. Now that we have a functioning Assembly here in Northern Ireland, introducing legislation to protect businesses from eye-watering rates hikes is something that needs urgent prioritisation. It makes no sense for us to push for stabilisation of the regional rate, but allow councils to increase the local rate to the levels that they have just last week.

“The hospitality industry generates economic growth and drives investment across our cities and towns, so our concerns deserve to be acknowledged. Every £100 spent in hospitality here generates £58 to the local economy; without hospitality, our economy cannot grow. A recent survey has also revealed that 70% of our members believe that business rates reform in Northern Ireland is the most important measure to allow their business to survive and grow. We need urgent action from our politicians to protect the industry’s future”.

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