Investment group may win Jurys auction

QUINLAN Private, the investment group led by former Revenue tax inspector, Derek Quinlan, was the slight favourite to buy the chain of Jurys Inns, as the auction approached a close yesterday.

According to reports, Quinlan Private is believed to have made the highest bid of the four remaining parties in the auction with an offer worth as much as €1.2 billion.

Also believed to be in the running is British leisure group and Premier Travel Inn owners Whitbread, who this week hinted it would use proceeds from its sale of the David Lloyd health club chain to pursue Jurys Inn.

“We have been very clear. If there is a bolt-on acquisition that we think will go well with our existing businesses, then we will be minded to do it,” finance director Chris Rodger told Reuters.

Whitbread announced on Sunday that it had agreed a sale of DLL to London & Regional, owner of Next Generation Clubs, for £925 million (€1,363m).

Lydian Capital Partners, a Switzerland-based firm backed by Irish billionaires John Magnier and JP McManus, are also believed to be among the final Jurys bidders.

Quinlan Private is understood to have more than €9bn of assets under management including retail properties, shopping centres and residential and commercial developments in Europe and North America.

All groups were contacted yesterday but failed to offer any comments. Bids for the Jurys Inn chain are seen at about €1bn, according to Reuters.