Paul Singer's Elliott Management Bets on Hotels as Part of $372 Million Deal
Photo Caption: The front desk reception area at The Clarence Hotel in Dublin and formerly owned by Bono and The Edge of the band U2. Source: Dean Hotel Group.
Skift Take
An investment vehicle backed by Elliott Management has invested in hotels, following similar moves by other big-money firms. Fun fact: The $370 million deal coincides with the acquisition of U2's The Clarence Hotel.
The Dean Hotel Group, which runs a handful of high-end properties in Ireland, has sold a majority stake to an investment vehicle backed by funds advised by Elliott Management.
The companies didn't disclose the deal's terms or value. The deal valued Dean Hotel Group at about $372 million (€350 million), The Currency reported.
In a related move, the group acquired The Clarence,
