Expected to employ 200 on Dean Street...
The Hodson Bay hotel group has been granted permission to build a four star hotel on Dean Street, Dublin 8
The property will cost €40m to construct, boasting 257 beds and employing 200 full-time staff once it is open for business.
Located near St Patrick's Cathedral in the Coombe area of the capital, the hotel will be connected to the protected pub Fallon's (pictured) and house a café bar and restaurant, as well as conference facilities.
Hodson Bay's owner John O'Sullivan is hoping to have it up-and-running within a year of final approval, which will be dependent on any appeals.
The hotel will operate under a franchise licence.
Due to the strong relationship Hodson Bay – one of the few such groups still owned by an Irish family – has with Starwood Hotels and Resorts, it is expected that the new establishment will be unveiled as a Sheraton Hotel.
Hodson Bay already operate three hotels in Ireland: the Hodson Bay Hotel overlooking Lough Ree, the Sheraton Athlone Hotel, and the Galway Bay Hotel in Salthill.
Last week saw The Gresham on Dublin's O'Connell Street attract final bids of up to €85 million, with investment banking giant Goldman Sachs among the four shortlisted bidders vying for the famous four-star hotel.
A winner is expected to be announced mid-week. Along with healthy recent bids for DoubleTree by Hilton Dublin (the former Burlington), it has been taken as evidence that market confidence in the hotel industry is increasing.