Private equity group Quinlan Private has beaten off competition to buy the Jurys Inn hotel chain for almost €1.16 bln.
A statement said that the property and investment advisory group agreed the deal on Saturday for the chain of 20 budget hotels.
Jurys Doyle Hotel Group will now focus on its four-star and five-star hotels.
Quinlan beat rival bids from Lydian Capital, backed by JP McManus and John Magnier, Whitbread, which sold its David Lloyd health club chain last week for £925m, and also private equity group Permira.
