Search
The Caterer

Jurys Doyle receives improved bid

01 June 2005
Jurys Doyle receives improved bid

Irish hotel group Jurys Doyle has received an improved offer from Precinct Investments, owner of Gresham hotels.

This second unsolicited approach in three weeks for Ireland's largest hotel chain raises the offer for shares to €16.25 (£10.97) each.

This represents a rise of €1 (60p) from the original offer on 9 May, which proposed a price of €15.25 (£10.37) per share for the 33-strong hotel chain.

But an industry insider questioned whether Precinct, which is run by two developers and a solicitor, had the financial resources or ability to buy and run Jurys hotels.

"Because the Ballsbridge site in Dublin is such prime real estate, alternative uses could be being considered. Current speculation is that there may be a back to back deal in place where Precinct keep the Ballsbridge site and sell on the rest of the Jurys hotels to another purchaser," he said.

Jurys Doyle has hotels in Ireland, the UK and USA.

Buy this week's Caterer magazine for more industry news and analysis

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!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.