Quinlan Private buys the Jurys Inns for €1.165 billion

Jurys Inns comprises 20 three star “budget-plus” hotels in city centre locations throughout Ireland and the UK with a total of 4,835 rooms. Fourteen hotels are located in the UK and six in Ireland. Quinlan Private intends to expand the portfolio, under the Jurys Inn brand, through growth in the UK, Ireland, Continental Europe and, in particular, in Central and Eastern Europe where Quinlan has unique expertise. Niall Geoghegan is expected to retain his post as XX of Jurys Inns.

Jurys Doyle Hotel Group, which is also headquartered in Dublin, was formerly a publicly listed company before it was taken private in late 2005 by the Monahan, Roche, Gallagher and Beatty families through their investment vehicle JDH Acquisitions. Following a strategic review, the Group was re-structured into two divisions- a luxury hotels division and an Inns business.

The Group announced in January that it is to make significant capital investments in a number of its luxury hotels including the Westbury Hotel, Jurys Kensington, Jurys Clifton Ford, Jurys Great Russell Street and Jurys Bristol. The Group has two recently constructed hotels in Croke Park, Dublin and in Cork as well as its three hotels in Washington and one in Boston.

Pauline Bradley, the Quinlan Private Director who led this transaction, said: “This is a highly attractive business with enormous growth opportunities which we are delighted to acquire. It is a hugely interesting opportunity for our investors.”

Thomas Dowd, Quinlan Private Partner, said: “This acquisition once again demonstrates Quinlan Private’s ability to complete attractive deals quickly. Our ability to execute for this highly competitive deal also reflects the strength of QP’s relationship with its capital partners and, for this deal, with Anglo Irish Bank.”

Olan Cremin, Quinlan Private CEO, concluded: “This is a significant acquisition and we look forward to the exciting opportunities that this portfolio presents and the growth and development of the Jurys Inn brand across Europe. Quinlan Private’s track record of managing hotel assets for investors and our investment expertise in Western, Central and Eastern Europe will also be key in rolling out the Jurys Inn product in those markets.”

Quinlan Private’s other hotels include the Four Seasons hotels in Dublin, Prague and Budapest, the Maybourne Hotel Group of super-luxury hotels in London and Yasmin Hotels in Central Europe. In April, a group of investors led and advised by Quinlan acquired 47 Marriot Hotels in the UK for €1.6 billion. Quinlan Private’s financial adviser was Perella Weinberg Partners, its legal advisers were A&L Goodbody and Allen & Overy and its debt arranger was Anglo Irish Bank.