Jurys Doyle Hotel Group is to sell its Jurys Inns for over €1 billion, it was announced today.
A statement by Crownway Investments and Merrill Lynch, advisors to Jurys Doyle, said the 20 inns - 14 of which are located in the UK - are to be sold to Quinlan Private for €1.165 billion in cash.
Quinlan Private - the vehicle founded by tax consultant Derek Quinlan - recently completed the €1.6 billion purchase of a 47-hotel chain in Britain operated by the Marriott group with Igal Ahouvi Group.