Search
The Caterer

Barclay brothers increase stake in Maybourne Hotel Group

27 January 2011 by
Barclay brothers increase stake in Maybourne Hotel Group

The Barclay brothers, owners of London's Ritz hotel (pictured), could soon monopolise the ownership of London's luxury hotel market, as their financial stake in the Maybourne Hotel Group looks set to grow.

After acquiring a 24.8% stake in Maybourne, which owns the Berkeley, the Connaught and Claridge's hotels in London, last week, Sir David and Sir Frerderick Barclay have agreed the purchase of a further 35% of the company from Irish property entrepreneur, Derek Quinlan.

Tey acquired the initial shares after buying Misland (Cyprus) Investments - owners of a 24.8% stake in Coroin, the parent company of Maybourne - from the Dublin-based Green family, for an undisclosed sum.

Maybourne's other major shareholder is the Irish entrepreneur Paddy McKillen, with Kyran McLaughlin, an Irish stockbroker, Many of the loans backing McKillen are now controlled by Ireland's National Asset Management Agency.

The Maybourne Hotel Group would not comment on the Barclays acquisition into the company.

Maybourne needs £600m refinancing >>

Maybourne Hotel Group denies it is to be sold by Irish Government >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!