Jurys Doyle to sell Jurys Inn brand?

22 January 2007 by
Jurys Doyle to sell Jurys Inn brand?

Jurys Doyle Hotel Group is reportedly considering selling its three-star Jurys Inn brand in a deal worth up to €1b (£660m).

The Dublin-based company has appointed Merrill Lynch to consider a range of options for Jurys Inn, including splitting its underlying property assets from the operating arm, according to The Times.

However, an outright sale is understood to be the likeliest outcome, the newspaper said.

Jurys Inn has 20 hotels, of which 14 are in Britain and six in Ireland. The hotels are believed to have delivered earnings before interest, tax, depreciation and amortisation of around €60m (£39m).

Jurys Doyle was taken private by JDH Acquisitions, a consortium made up mainly of the Doyle family, in a €1.6b (£105m) deal in 2005. Since then, it has sold two hotels in Dublin for €375.5m (£246m), reducing its debt to about €870m (£570m).

Jurys Doyle loses second top executive >>

Jurys Doyle denies reports Jurys Inn chain on the market for £400m plus >>

Doyle family leads race to acquire Jurys Doyle >>

By Daniel Thomas

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