Jurys Doyle signs Heathrow deal
Irish hotel group Jurys Doryle has signed an agreement with property group BAA Lynton to build a 340-bedroom hotel at London's Heathrow airport.
Jurys Doyle, which will take a 125-year lease on the property, said it would spend about £22m on the development of the three-star, "budget-plus" Jurys Inn and would start building work in summer this year. Completion is expected in late 2004.
The eight-storey Jurys Inn, close to the Hatton Cross Tube station, will be the only hotel in the airport with Underground train connections to London and to the airport terminals.
Chief executive Pat McCann said: "Jurys Doyle has been looking for a suitable entry point to the London Heathrow market for some time, and we are very pleased that BAA has chosen us to develop this new hotel within the airport complex.
"The development of our fourth Jurys Inn in the London area further demonstrates our development strategy of expanding our three-star, budget-plus Jurys Inn alongside our four-star Jurys Hotel brand, and extends our market presence in London".
Jurys also announced that it has sold its three-star, 90-bedroom to Ireland-based Lynch Hotels for €11m (£7.2m), and that it had entered into a €28m (£18.2m) sale-and-leaseback deal on its 274-bedroom Jurys Inn Newcastle with property developer McAleer & Rushe. The hotel opens next Friday under a 35-year lease.
