Lynch pays €11m for Green Isle Hotel
The purchase of the 90-bedroom three-star Green Isle is the first foray into the Dublin market by the Ennis based chain of 13 hotels, of which eight are owned by the group. The company employs 1,300 people and offer 1,200 rooms nationwide.
Lynch Hotel managing director Michael B Lynch, said: “We have long sought a high-profile hotel property in the Dublin area, and the Green Isle, in terms of its location, its profile and its strong reputation is a perfect fit for our portfolio at this time.
Yesterday was a busy day for the Jurys Doyle Group as the company also announced the development of a Jurys Inn at Heathrow and the refinancing of Jurys Inn Newcastle. The new three-star “budget plus” 340-bedroom Jurys Inn at Heathrow will provide a unique offering to travellers as it is the only hotel at the airport with access to the underground and it also has free coach transfer facilities to all terminals. The hotel is just 200 yards from the Hatton Cross underground station.
Jurys Doyle is entering into a 125-year ground lease with BAA and will invest approximately €34 million in the construction of this new hotel. Construction of Jurys Inn Heathrow will commence this summer and is planned to open in late 2004.
Commenting on the announcement of the new Jurys Inn Heathrow, Jurys Doyle Hotel Group chief executive Pat McCann said: “Jurys Doyle has been looking for a suitable entry point to the London Heathrow market for some time and we are very pleased that BAA has chosen us to develop this new hotel within the airport complex.
Mr McCann also disclosed that the company is embarking on a site intensification programme which will be piloted on the three-and-half acre
Jurys Hotel site in Cork and will in time focus on the 11-acre Jurys/Tower/Berkley Hotel campus in Dublin.
Jurys other three-star properties in Dublin, the Montrose and Tara hotels will either be offloaded or upgraded in the near future.
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