Hospitality group Beannchor has secured a £30m finance package from Ulster Bank to support the expansion of its Bullitt Hotel brand.
The deal includes the refinancing of its Belfast site and funding for a new development in Dublin.
The group plans to open a 98-bed, four-star hotel on Capel Street in central Dublin. The project involves reopening a Victorian laneway that has been closed for more than 140 years.
Phase one of the Dublin development will introduce several new eateries and a bar. The hotel portion of the Capel Street site is expected to open to the public in 2028.
Chief executive Bill Wolsey founded the family-owned business, which manages a portfolio of hotels, restaurants, and nightclubs.
The company previously completed regeneration projects including the Merchant Hotel and the Dirty Onion in Belfast.
James Sinton, Beannchor director, said: “We are extremely grateful to the team at Ulster Bank for their support. This funding represents an important strategic milestone for us and will help enable our expansion plans, including the development of a new Bullitt Hotel in Dublin. Beyond the finance, the Ulster Bank team’s extensive hospitality expertise and insight have been hugely valuable throughout the process.”
Kenton Hilman, head of corporate and property at Ulster Bank, added: “Beannchor is one of Northern Ireland’s most innovative and successful hospitality businesses and we are very pleased to support the group with the refinancing of Bullitt Hotel Belfast and finance for the planned Bullitt Hotel in Dublin.
“This builds on Ulster Bank’s strong reputation in the hospitality sector and supports one of Northern Ireland’s leading hospitality businesses as it continues to expand and grow in its existing market and in an important new market.”
