Dublin – January 14th, 2019 – A familiar name has been announced as the new operators of Barnacles Hostel in Dublin’s Temple Bar. theKeyCollections who currently operate 5 hotels and 3 guesthouses in Dublin have signed a long-term management contract with MM Capital to operate the 171-bed hostel. The property will be initially rebranded to Barnacles Hostel by theKeyCollections before a complete refurbishment of the property is undertaken. MM Capital purchased the property for just over €12 million in November.
The agreement will expand theKeyCollections room stock in Temple Bar which already includes the 40-bedroom Handels Hotel. Speaking on the announcement Christopher Kenny Group Marketing Manager for theKeyCollections said “the agreement allows a very unique property in central Dublin to join theKeyCollections brand. Barnacles complements theKeyCollections continuing growth strategy and supports our brand vision of offering guest’s genuine experiences in superb locations. “
Christopher continues “theKeyCollections is focused on continued growth both in Ireland and the UK and this exciting project with MM Capital allows us to expand our brand in one of the most sought-after locations in Dublin. Despite the uncertainty caused by brexit Dublin remains a key market for our expansion plans and we believe that the demand for tourist accommodation in Dublin will remain strong.”
Barnacles joins a growing list of properties that have joined theKeyCollections in the past 24 months which includes Hotel St. George, The Camden Hotel and The Gate Hotel in Dublin along with The Exhibitionist Hotel in South Kensington London. theKeyCollections recently announced a profits increase of 33% to €1.2 million and a revenue increase of 22% to €22.5 million for 2017.
TheKeyCollections is an Irish owned company that is based in Ballycoolin in Dublin. theKeyCollections was started after Roomyield Ltd, which offered Room Yield Management and Sales services, entered into leases to operate and manage Hotels and Guesthouses. theKeyCollections portfolio now includes properties in Dublin, Carrick on Shannon and since January 2018 London. The company currently employees over 300 people across all of it’s properties and head office functions.
For further information, please contact:
Nicola Watkins PR