The board of Jurys Doyle has received a new approach from the Precinct Investments consortium.
A statement from the hotel group said the new price was €16.25 per share, one euro above the price which Jurys rejected earlier this month. This would value the group at just over €1 billion.
Jurys Doyle said the approach was preliminary and subject to a number of conditions. Jurys operates more than 30 properties in Ireland, the UK and the US.
Precinct is the consortium that successfully bid for the Gresham Hotel group last year. It is made up of property developer Brian Cullen, solicitor David Coleman and Wexford-based builder JJ Murphy.
Shares in Jurys Doyle shot up by 80 cent to close at €16 in Dublin.
