Jury's shareholders back sale of €260m site

Shareholders at Jurys Doyle hotel group today voted unanimously in favour of selling the company’s prestigious Ballsbridge site for €260m.

The deal was sealed following a three-hour meeting in Dublin with 95% of votes for the move.

Richard Hooper chairman of the group said the board was very happy with the settlement.

“We’re very pleased and are able to resume our strategy which is to realise property assets and reinvest,” Mr Hooper said.

The 4.8 acre site in Dublin 4 comprises the Ballsbridge Hotel, Towers and the Berkeley Court apartments.

The company is expected to keep the site open until September 2007.

At the shareholders’ meeting concerns were raised that around 600 staff could be out of work when the hotel closes.

But Mr Hooper moved to allay fears and said many workers could be redeployed through other hotels in the group.