Irish duo bid for Jurys

Irish duo JP McManus and John Magnier have joined the circa €1bn fray for Jurys Inns.

Merrill Lynch was appointed in March to oversee the sale process of Jurys Inns, which is a chain of 20 three and four star hotels in the UK and Ireland.

The auction is believed to have included up to approximately 50 potential buyers including private equity and trade. With Blackstone, Cinven and Permira all reported to have shown an interest.

Permira’s interest in the hotel sector was well documented last year with the high profile bidding war between Permira and the Alternative Hotel Group (AHG) for British hotel and leisure group De Vere. AHG finally trumped Permira who may now be looking for an alternative asset in this sector.

The first round of bids is reported to have closed last week with the advisors to the Doyle and Beatty families now drawing up a shortlist of bids.

Jurys is currently owned by JDH Acquisitions, a consortium that includes three daughters of the group’s late founder, PV Doyle. The consortium, which landed the group in a €1.3bn deal in October 2005 was led by PV Doyle’s eldest daughter Bernie Gallagher, who also runs her own company Crownway Investments with her husband, John.

The consortium has already sold off the Burlington Hotel to Bernard McNarmara for €288m as well as receiving €380 from the sale of Jurys Hotel in Ballsbridge and The Berkeley Court Hotel to Sean Dunne.

Sandrine Bradley