Jurys Doyle has reached agreement with the property division of British airports operator BAA to build a new 340 bedroom Jurys Inn at London Heathrow Airport.
It has also announced the sale of the Green Isle Hotel in Dublin to Lynch Hotels for €11m in cash.
The Heathrow deal follows a tendering process involving a number of hotel groups. Jurys Doyle will enter into a 125-year ground lease with BAA and will invest around €34m in construction of the hotel. It is planned to open the new Inn in late 2004.
On the Green Isle sale, the group says the hotel is performing well but does not fit into its strategic plan. Jurys Doyle sold two other three-star hotels in July last year.
Lynch Hotels managing director Michael Lynch said the group had long sought a high profile property in the Dublin area and that the Green Isle was a perfect fit. The group now has 13 hotels.
* Jurys Doyle also announced today that its Inn in Newcastle would open on February 14. Agreement has been reached to transfer ownership of the hotel to McAleer and Rushe for €28m in cash and lease it back for 35 years.
