Dalata Hotel Group, the largest hotel operator in Ireland, and Chartered Land, the owner of the Ballsbridge and Clyde Court Hotels have announced that the Clyde Court Hotel in Ballsbridge will close ahead of a major redevelopment of the site.

Dalata informed the hotel's 100 staff this morning that the it would be closing on January 1st 2016 - it does not expect the closure to cause any job losses.

It has also confirmed that the suppliers of the Clyde Court Hotel will suffer no loss and will be paid in full.

The group as also announced that it has extended it's lease on the Ballsbridge Hotel, which is situated next to the Clyde Court, until at least April 2018.

Chartered Land says that 500 jobs will be created during the construction phase of the site's redevelopment.

190 apartments will be built on the site - they are expected to come on market during 2017.

Pat McCann CEO of Dalata said; “While there is a certain sadness at the closure of the Clyde Court Hotel, I am delighted that the Ballsbridge Hotel will continue in operation until at least April 2018.

"Our staff at the Clyde Court Hotel are truly excellent professionals and we are very keen to retain their services across our large network of hotels. We will be meeting with loyal and supportive customers over the coming days to discuss how best we can accommodate them in our other Dublin hotels."

He added that Dalata has €160m in fresh equity capital to invest in buying existing or building new hotels in Ireland.