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Dublin ranks among the most undersupplied cities for hotel bedrooms, report finds

Dublin ranks among the most undersupplied cities for hotel bedrooms, report finds

Business Post01-05-2025

Commercial Property
Dublin ranks among the most undersupplied cities for hotel bedrooms, report finds
New research by CBRE has found the tourism sector faces issues meeting demand as developers hit impediments building new stock
Killian Woods
05:00
Dublin is one of the most undersupplied major European destinations for hotel bedroom supply.

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Lone Star agrees to sell Portugal's Novo Banco to France's BPCE for €6.4 billion
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Lone Star agrees to sell Portugal's Novo Banco to France's BPCE for €6.4 billion

French banking group BPCE has agreed to buy US private equity fund Lone Star's 75% stake in Novo Banco in a deal that values Portugal's fourth-largest bank at €6.4 billion, following a wave of consolidation in European banking. Novo Banco was created in 2014 from the collapsed Banco Espirito Santo (BES) after a state bailout, with Lone Star buying its stake in 2017 for €1 billion. Nicolas Namias, the chief executive of France's second largest domestic bank which operates under the Banque Populaire and Caisse d'Epargne brands, said in a statement that the Portuguese acquisition would allow his group to become a retail banking player in Europe. The Portuguese state and a banking resolution fund financed by the country's banks own the remaining 25% stake in Novo Banco, and enjoy a tag-along clause that allows them to sell on the same terms as Lone Star. "I do think that this acquisition is fully in line with what the ECB is advocating for, which is European banking consolidation," Namias said in a call with journalists. Europe's banking sector has seen renewed consolidation activity, with domestic and cross-border deals back in focus. In Spain, BBVA announced a more than €14 billion hostile bid for rival Sabadell last year, aiming to gain scale and cut costs in its home market. The CEO of Italy's UniCredit, Andrea Orcel, last year made a move on Germany's Commerzbank and smaller Italian peer Banco, sparking angry reactions in both Berlin and Rome. BPCE already has a small consumer credit operation in Portugal and its subsidiary Natixis has a technology centre handling IT services and back office for the whole group. As of March, Novo Banco had €30 billion in deposits and €28.5 billion in net loans, equivalent to a 9% market share in Portugal. It has almost 300 bank branches and more than 4,200 employees.

Liverpool land Bayer Leverkusen star Florian Wirtz in £116m deal
Liverpool land Bayer Leverkusen star Florian Wirtz in £116m deal

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Premier League champions Liverpool have agreed a club-record deal worth up to £116m (€136.36) to sign Florian Wirtz after Bayer Leverkusen finally settled on a fee for their playmaker. The Reds had two bids rejected, the last one of £113m which would have seen £100m paid up front with performance-related add-ons, but have finally got the deal over the line. Liverpool will still pay an initial £100m – comfortably surpassing their own record outlay – but the performance-related add-ons, if achieved, would make it a potential British record. Leverkusen had valued the 22-year-old Germany international around £125m but regardless, Liverpool's overall outlay could surpass the £115m Chelsea paid Brighton in 2023 for Moises Caicedo – who turned down Anfield after the Seagulls had accepted an offer which was subsequently matched by their Premier League rivals. Striker Darwin Nunez was their previous record signing in 2022, although they have not paid the full £85m as he has not met all the requirements for certain add-ons to be due. Liverpool, like a number of top European clubs, had been watching Wirtz for some time but did not consider themselves front-runners for his signature. However, after Manchester City pulled out, reportedly due to the spiralling costs of the whole package, and Wirtz expressed a preference for Merseyside over Bayern Munich, sporting director Richard Hughes changed gear. Talks were already ongoing with Leverkusen over Jeremie Frimpong, who became the first new addition to Arne Slot's squad in a £30m deal late last month, which made the line of communication easier. Hughes' connections with his former club Bournemouth mean he was also well-placed to progress talks with the Cherries over the signing of left-back Milos Kerkez, a player he originally brought to the Premier League.

Liverpool agree potential €136m deal for Florian Wirtz
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Irish Examiner

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Liverpool agree potential €136m deal for Florian Wirtz

Premier League champions Liverpool have agreed a club-record deal worth up to €136million (£116m) to sign Florian Wirtz after Bayer Leverkusen finally settled on a fee for their playmaker. The Reds had two bids rejected, the last one of £113m which would have seen £100m paid up front with performance-related add-ons, but have finally got the deal over the line. Liverpool will still pay an initial £100m – comfortably surpassing their own record outlay – but the performance-related add-ons, if achieved, would make it a potential British record. Liverpool have broken their club record to sign Bayer Leverkusen's Florian Wirtz (Peter Byrne/PA) Leverkusen had valued the 22-year-old Germany international around £125m but regardless, Liverpool's overall outlay could surpass the £115m Chelsea paid Brighton in 2023 for Moises Caicedo – who turned down Anfield after the Seagulls had accepted an offer which was subsequently matched by their Premier League rivals. Striker Darwin Nunez was their previous record signing in 2022, although they have not paid the full £85m as he has not met all the requirements for certain add-ons to be due. Liverpool, like a number of top European clubs, had been watching Wirtz for some time but did not consider themselves front-runners for his signature. However, after Manchester City pulled out, reportedly due to the spiralling costs of the whole package, and Wirtz expressed a preference for Merseyside over Bayern Munich, sporting director Richard Hughes changed gear. Talks were already ongoing with Leverkusen over Jeremie Frimpong, who became the first new addition to Arne Slot's squad in a £30m deal late last month, which made the line of communication easier. Hughes' connections with his former club Bournemouth mean he was also well-placed to progress talks with the Cherries over the signing of left-back Milos Kerkez, a player he originally brought to the Premier League.

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