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Jurys Doyle, the privately-owned Irish hotel group, is to sell the Burlington Hotel in Dublin, and re-invest the profits as part of a ”200m development plan. Following the group”s privatisation in late 2005 by JDH Acquisitions, the company has been split into two divisions: the premium hotels side and the inns business.
The group plans to invest the ”200m in existing hotels, including the Westbury Hotel, Jurys Kensington, Jurys Clifton Ford, Jurys Great Russell Street and Jurys Bristol, as well as new developments planned for key international cities. In particular the company plans to expand in North America”s East Coast, where they currently operate three Washington hotels and one in Boston.
JDH Acquisitions and group chairman Ms Bernie Gallagher said: ”Our strategy is to firmly position the hotels in the Group at the premium end of the markets in which they operate and we are committed to invest accordingly. The JDHA Board decided to commence a sale process for the Burlington on the basis of compelling commercial criteria underpinned by the recent transaction in the area. This was a difficult decision for us, however, the significant investment that the Burlington would need, combined with the newly benchmarked value of the site, ultimately influenced our decision.”