Dublin-based Quinlan Private is planning to spend £250 million (€347 million) extending and refurbishing its luxury Claridge's and Berkeley hotels in London. Ciarán Hancock, Business Affairs Correspondent, reports.
Maybourne Hotel Group, which Quinlan controls on behalf of its investors, received planning permission on Thursday from Westminster Council to refurbish both properties.
It is understood that the hotels will finance the construction work from a mix of their own resources and debt.
Quinlan plans to add two floors to Claridge's, to include 40 new guest rooms and suites; a health spa, gym and swimming pool; improved conference facilities; and additional retail space to give it a closer link to Bond Street and Mayfair.
In terms of the Berkeley, Quinlan plans to increase the number of rooms to 241 from the current 214.
It will also relocate its spa facility from the rooftop to the the basement; expand its restaurant and bars; provide a new internal courtyard; and build new retail and residential units within the hotel complex.
Work is expected to begin on both hotels in early 2009 and they will remain open during the construction.
Quinlan Private chairman Derek Quinlan said the investment would "maintain" Maybourne's reputation as a leading "super-luxury" five-star brand. "We are also delighted that the plans will lead to the creation of a significant number of permanent new jobs in the hotels," Mr Quinlan said.
Maybourne comprises Claridge's, the Berkeley and Connaught hotels in London.
Quinlan Private bought the then Savoy Group for £750 million in May 2004. The deal also included the up-market Savoy Hotel in London, the Savoy Theatre and Simpson's-in-the-Strand restaurant, all of which were sold on by Quinlan in 2005.
Quinlan Private, which manages €10 billion worth of assets, is believed to have booked a £40 million profit from the sale of the Savoy Hotel alone.
Quinlan Private also owns the Jurys Inn hotels in Ireland and Britain, which it acquired earlier this year for €1.16 billion, and the Marriott UK chain.
