The sale last weekend saw investor Quinlan Private pay £791m for the chain to Irish-based Jurys Doyle Hotel Group. Quinlan Private is believed not to have used a financial PR agency.
M: and Drury were hired by Crownway Investments, run by John Gallagher – a member of the Doyle family, which owned the chain. The banker Merrill Lynch handled an auction of the hotels.
M: co-founder Nick Miles headed the account in London, and Drury Comms chairman Billy Murphy headed the Dublin side.
Jurys Doyle is left with 12 luxury hotels, worth a similar amount to the hotels sold in this deal. The group is now expected to focus on its luxury offering.
Jurys Doyle Hotel Group was taken private in late 2005 by the founding Monahan, Roche, Gallagher and Beatty families.
Following a strategic review undertaken by Crownway, the group was restructured into a luxury hotels division and an Inns business division. The Inns side is in 20 city centre locations.
Property developer Derek Quinlan’s eponymous investment firm owns the Claridge’s and Connaught hotels in London. He also recently bought 47 UK Marriott hotels with a partner for around £1.1bn.
The firm was up against Swiss-based private-equity firm Lydian Capital Partners and the UK’s Whitbread PLC as shortlisted bidders in the running for Jurys.