An investment fund from Oman has bought a 50% interest in the budget hotels chain Jurys Inns. The announcement was made by property investment group Quinlan Private, which bought the business for €1.15 billion last year from the Jurys Doyle group.

Oman Investment Fund is the investment arm of the Sultanate of Oman. Its deputy CEO Hassan Al Nabhani said it was impressed with the quality of the business and its growth potential..

Since Quinlan bought the chain, it has opened three new hotels, bringing the total to 23 in the UK and Ireland. A further 10 are due to open over the next couple of years, while Inns are planned for Prague and Budapest in 2010.