A fund connected with Oaktree Capital Management has acquired the former Zanzibar hotel on Dublin’s quays with a view to delivering a 100-bedroom SACO Locke aparthotel on the site.

Zanzibar was acquired in late December for roughly double the €5 million asking price, after more than 20 offers, and follows the opening of the first Locke aparthotel on London’s Leman Street last year, while a second is due to open soon in Edinburgh.

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