Transaction Advisory
Acquisition Due Diligence for FBD Hotels & Resorts
FBD Hotels & Resorts engaged Horwath HTL and Crowe Ireland, to provide purchaser due diligence on the acquisition of the Grand Hotel Malahide, a 202-room four-star hotel on Dublin’s north coast. The acquisition was a strategic addition to FBD’s Irish portfolio, extending its presence in the Dublin market through the purchase of an established and diversified asset. Independent diligence was required to give FBD’s leadership and investment committee assurance on the quality of earnings, market fundamentals, and tax position of the business prior to completion.
The work was structured as a single, integrated due diligence review combining commercial, financial, and tax perspectives.
Commercial analysis focused on the drivers of performance across rooms, food and beverage, leisure, and events, benchmarking trading against wider Dublin market dynamics. This established a normalised view of earnings capacity and identified which revenue streams provided sustainable contribution versus those more exposed to variability.
Financial diligence validated the quality of reported EBITDA, reviewed working capital requirements, and assessed the reliability of finance processes and cost structures. The analysis gave FBD clarity on underlying profitability and highlighted areas where integration would be required to align the business with group standards.
Tax review covered corporation tax, VAT, and employment taxes, providing assurance on overall compliance while also flagging historic exposures and confirming the impact of pre-completion restructuring. Together, these workstreams delivered a rounded view of both risk and resilience in the target business.
The due diligence gave FBD Hotels & Resorts an independent, defendable basis for proceeding with the acquisition. It validated the earnings base, provided transparency on tax exposures, and highlighted operational considerations for integration. The report offered FBD’s investment committee the assurance required to commit capital and served as supporting material for financing, ensuring the acquisition could be completed with confidence in both value and risk profile.
Project Location
Malahide, Ireland
