NOW here's an intriguing thought. Should profitability at the Jurys hotel group continue to improve and the ambitious growth plans outlined in this week's impressive set of half-year results come to fruition, the group could provide a tasty a la carte morsel for the fat boys of the business, like aspiring hotelier Granada or the long-established Forte. Granada, should its £4 billion bid for the Forte group succeed, is intent on building up Forte's core assets of mid-market hotels. Jurys, which operates so successfully in this sector, would be an attractive and cheap prospect for any big time caterer wishing to beef up its asset profile.
Capitalised at around £100 million, the Irish hotel group is attracting greater investment interest across the water, IS per cent of the equity nestling in British portfolios.
Jurys expects a £2 million improvement in full-year profits to £8 million after a first half to end October last which saw pre-tax profits surge 37 per cent to £5.7 million. Turnover improved 17 per cent to £25 million.
Managing director Peter Malone says that the group is anxious to grow by acquisition and has the capacity to fund such growth from its internal resources.
Ireland, Britain and possibly the Benelux countries are favoured but as yet no obvious opportunities have been identified.
Malone says Jurys is in the hotel business "for profits, not prestige", an ominous echo of the mantra being chanted by Granada during the course of the Forte bid.
Fortunate Jurys' shareholders can tuck into an hors d'oeuvre of a 12.5 per cent richer interim dividend of 2.3p, with the likelihood of an even richer dessert to round off their cordon bleu investment.