Quinlan Private sells 50% stake in Jurys Inns to Oman Investment Fund

QUINLAN PRIVATE, the Dublin-based international private investment firm, has sold a 50% stake in its Jurys Inns business to the Middle-Eastern Oman Investment Fund (OIF) for about €200 million.

Quinlan bought the Inns business for €1.16 billion last summer and has since increased the number of properties in the chain by three to 23, while a significant expansion plan is in place for the next few years. Ten more hotels are due to open in 2009-2010 and sites have been secured for further building which should see the Jurys Inns portfolio stretch to 48 fully operational properties by 2012.

This will also include the brand’s expansion into the central/eastern European market, particularly the Czech Republic and Hungary.