Quinlan Private, the Irish property group, has completed its second major hotel transaction this year with the €1.165b (£791m) purchase of Jurys Inns.
Jurys Inns comprises 20 three-star “budget-plus” hotels in city-centre locations throughout Ireland and the UK with a total of 4,835 rooms.
Quinlan said it would expand the group with new sites in the UK, Ireland and continental Europe.
Pauline Bradley, director of Quinlan, said: “This is a highly attractive business with enormous growth opportunities which we are delighted to acquire. It is a hugely interesting opportunity for investors.”
The company beat a number of high-profile suitors to the assets including Premier Travel Inn owner Whitbread Group.
In April, Quinlan, in concert with a consortium under the Igal Ahouvi Group umbrella, purchased 47 Marriott hotels for £1.1b from Royal Bank of Scotland.
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By Chris Druce
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