In the middle of U2’s ongoing performances at The Sphere in Las Vegas, the news reported that Bono and The Edge have recently sold their Clarence Hotel in Dublin, a business they’ve held for 30 years.
The Dean Hotel Group, led by Paddy McKillen Jr and Matt Ryan, has bought the property through a multi-million-euro deal with the U2 members and their business partner, Paddy McKillen Sr.
The exact financial details of what Bono and The Edge received from the deal have not been revealed. But The Irish Times has reported that the acquiring group secured a loan of €43 million to help the acquisition of the Clarence Hotel’s freehold.
The Dean Hotel Group, under the umbrella of the Press Up Hospitality Group, got the leasehold of the Hotel in 2019. They have managed its operations since that time.
With the recent acquisition, they announced plans for renovations and expansions to increase the room number to 102 by extending the property into the next-door building.
