The renowned hotel has been sold by Bono, the Edge, and business associate Paddy McKillen Sr. to the Dean Hotel Group, which is also controlled by Matt Ryan and Paddy McKillen Jr.

According to the Irish Times, McKillen Jr. and Ryan managed Clarence's operations for several years before acquiring the hotel's leasehold in 2019. But as of right present, the hotel is fully owned by the Dean Hotel Group.

In 1992, Belfast-based real estate investor McKillen Sr. and Bono and the Edge purchased the hotel.

With the aid of a €43 million financing facility from Leumi UK, which is being used to purchase the hotel's freehold interest, the Dean Hotel Group completed the transaction. Additionally, it will cover the cost of the hotel's expansion, adding 43 extra rooms to the current 102 rooms at the Clarence.

The Clarence will be extended into the nearby building—which the Dean Group is also buying—as part of the proposed expansion.

The larger Press Up Hospitality Group, which operates a sizable number of bars, eateries, and hotels around Ireland, is comprised of the Dean Hotel Group.

Press Up manages hotels in Dublin, including the Devlin, Dean, and Mason, and the wildly popular Stella Cinema in Rathmines.

The amount of money that Bono and the Edge made from the sale of the Clarence is now evident.

U2 is now finishing up their residency at the Las Vegas Sphere. In 2000, the band played their song “Beautiful Day” from the rooftop of Clarence.

Although the band had originally planned for the residency to consist of 25 gigs, they have now added 11 more dates for January and February of next year.