Jurys Doyle looks for better trade figures

Irish hotel group Jurys Doyle expects trading in the first half of the financial year to be better than in the same period last year.

In a pre-close trading statement issued last week, Jurys Doyle said that pre-tax profits in the six months to 31 October would be ahead of those from the equivalent part of 2001 because it has been "trading in line with expectations" in both September and October.

The group said that the key driver in its improved performance was the "continued strength" of its Jurys Inn chain.

It added that occupancy levels in most of its Jurys Inns and recent openings were "strong", and that its Jurys Inns properties in Ireland and the UK were performing better than last year.

Jurys said trading in Dublin and London continued to be challenging because of reduced corporate conference and incentive business and fewer tourists, but added that a number of its four-star hotels were trading better than in 2001.

The group said that it expected trading in the second half of the year to continue to be affected by the same factors as in the first six months. It said its four-star hotels in Dublin and London were likely to "operate in an unchanged trading environment" which would "curtail the momentum growth" being achieved by the group.

Trading in the Jurys Inn portfolio is expected to remain "good", the group said.

Jurys added that it had been looking at new development opportunities during the first half of the year. It is thought to be close to finalising a deal with property developer Shelbourne Developments to build a €23m (£14.5m), three-star Jurys Inn in Dublin, which would be the group's third hotel in the city.

Jurys is currently building Jurys Inns in Newcastle, Glasgow and Leeds, and Chelsea in London. The hotels are expected to open between early next year and early 2004.

by Samantha McClary