A fund connected with Oaktree Capital Management has acquired a former hotel on Dublin’s quays, intending to develop a 100+ bedroom aparthotel on the site, as part of ASAP Member SACO’s lifestyle concept Locke brand.

The Zanzibar hotel was acquired in late December for more than €10 million, around double its asking price, and is part of a €45 million investment.

This will add to the brand’s other aparthotels, the first, Leman Locke, which opened last year in London, Edinburgh and Manchester.

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