Hotels group Jurys Doyle plans to close down two of its three hotels in Ballsbridge in Dublin after unveiling plans to sell off land at the site.
The company is to retain the site where the five-star Berkeley Court Hotel currently stands in order to redevelop a a new four-star hotel, but five acres of land containing Jurys Ballsbridge and the Towers will be put out to tender.
Jurys Doyle chief executive Pat McCann said the company was faced with the reality that the Ballsbridge properties were not performing to the required levels. He said the aim was to 'unlock the value of a major asset' while continuing to have a hotel presence in Ballsbridge.
Mr McCann said staff numbers would be cut through voluntary redundancies, but staff could be re-deployed at the new Ballsbridge hotel or in other hotels within the group. More than 400 full-time staff are currently employed at Jurys Ballsbridge and the Berkeley Court.
The move comes a day after the company rejected a second takeover approach from the Precinct consortium. However, this afternoon a statement from the consortium, which last year took the Gresham Hotel Group private, said it was still interested in Jurys Doyle.
'Precinct wish to confirm their continuing interest in delivering an offer to the shareholders of Jurys Doyle, and accordingly, are considering their response,' the Precinct statement said.
Jurys Doyle yesterday said that the second approach by Precinct, which had raised its proposed offer price by €1 to €16.25 per share, did not fully reflect the company's value or its prospects.
Jurys Doyle said all three hotels would operate as normal for the foreseeable future. The deadline for the tender process is July 18, while the company points out that the subsequent planning process may take some time. The plans are also subject to shareholder approval.
