×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Baturina to Buy Hotel in Dublin

The wife of ousted Moscow Mayor Yury Luzhkov, real estate tycoon Yelena Baturina, is expected to buy the Morrison Hotel in Ireland's capital. Denis Grishkin

Nama, the Irish state assets agency, is poised to sell the Morrison Hotel in Dublin to Yelena Baturina, wife of former Moscow Mayor Yury Luzhkov and one of Russia's richest women, The Irish Times reported over the weekend.

Nama is in the final stages of negotiating the sale of the hotel, which has been on the market since September, for between 20 million and 25 million euros ($25 million and $32 million).

Baturina is bidding for the property through a London-based asset management firm. The deal has not yet been done, but it is expected to be signed next week.

Her bid is the highest of a shortlist of three or four formally made to Nama in the closing weeks of 2011.

Baturina's wealth is estimated at $1.2 billion. She has interests in construction, manufacturing, farming and property. She had set up her main business, Inteko, in 1991.

Baturina and her husband bought a house in London in 2010, and later told media that they were sending their two daughters to school in Britain to protect them from "intimidation" in Russia.

The Morrison Hotel was part of businessman Hugh O'Regan's pub and hotel empire until Nama appointed Martin Ferris as receiver in 2010. The agency placed the property on the market in September, and formal bids were made in November. Reports released last month indicate that the hotel was profitable last year.

According to Dublin-hotels.net, the Morrison is an 84-room four-star hotel on Lower Ormond Quay that incorporates the facade of a Georgian townhouse. It opened in 1999.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more