As expected, the auction of the Mandarin Oriental will likely set a Boston hotel-sales record. The Irish government is dumping the 14-story luxury inn at 776 Boylston Street as part of an asset liquidation of the defunct Anglo Irish Bank. Hilton bid on the Mandarin last week.
Related: Our Updated Map of the Many New Hotels Going Up in Boston
The hospitality giant offered just under $946,000 per room, the Globe's Tim Logan reports. That would translate into a sale of just over $140,000,000—the priciest hotel buy in Boston history. The amount would easily best the nearest competitors. A 2014 stake sale at the Boston Harbor Hotel valued those rooms at $724K each, and the Revere Hotel traded last year for about $731K per room. Hilton's bid, which does not include the building's 85 luxury residences, is not final as the Mandarin's namesake operator is entitled to make a counteroffer. Stay tuned.
· Hilton Offers $140 Million for Mandarin Oriental [Globe]
· Mandarin Oriental Sale Could Set a Boston Hotel Record [Curbed Boston]