€90 Million UK Expansion Announced By Jurys Doyle Hotel Group

Highlights:
* Further growth of Jurys Inns Brand
* 3 new Jurys Inns to be developed in the UK
* Developments will add 1,000 new bedrooms
* In total, 15 Jurys Inns will be operating in key locations in UK and Ireland
* Total Jurys Inns bedrooms - operating or under construction - increases to 3,366
Jurys Doyle Hotel Group plc today Tuesday, 23rd April 2002 announced three new Jurys Inn developments in the UK. The Inns will be located in Glasgow, Leeds and Chelsea, London and will involve a total investment by the Group of just under €90 million. The three new Inns, together with Jurys Inn Newcastle, which is currently under construction and expected to open in Spring 2003, will add almost 1,000 to the total bedroom count of the Group, which is currently 6,145. This represents an increase of approximately 16% in Group capacity.  It is planned that the new developments will be financed through a combination of internal resources and debt.


Commenting on the developments, Mr. Pat McCann, Chief Executive, Jurys Doyle Hotel Group plc, said: “The development of three new Jurys Inns is a significant advancement of our development strategy and clear evidence of the excellent scope for us to increase capacity throughout the UK in major cities where we see significant opportunity to expand our unique brand. The further roll out of our highly successful Inns brand brings us to two new major UK cities and extends our reach in the London market. Upon completion, it will bring to ten the total number of Jurys Inns operating in the UK across eight major cities. Our focus is to continue a capital expenditure programme maintaining the onward momentum and growth of the Group through a combination of hotel and Inns developments in the United Kingdom and eastern United States of America”.  Jurys Inn Glasgow will be located in Jamaica Street, adjacent to Central Station and overlooking the River Clyde and is a two-minute walk from the major shopping streets and is located close to major office developments and the Scottish Exhibition and Conference Centre.  The 314-bedroom Inn will cost in the region of €37.9 million and will be completed by Autumn 2003.  The Jurys Inn Glasgow will provide over 13,000 sq ft of dedicated meeting room space and the development work will be carried out by McAleer and Rushe Ltd.


The 216-bedroom Jurys Inn Leeds, which will be located in Brewery Wharf on a 5-acre development comprising office, leisure and residential accommodation will provide over 7,000 sq ft of dedicated meeting room space.  The fastest growing city in the UK, Leeds is also the cultural capital of the North and is very well served by all modes of transport.  The Inn will be completed in Spring 2004 and will be constructed by McAleer and Rushe Ltd, at a cost of €29.3 million.


Jurys Inn Chelsea will be located near the fashionable Kings Road and within walking distance from the Premiership football clubs, Chelsea and Fulham.  The Inn will be located in a 32-acre riverside site at Imperial Wharf, which will contain upmarket residential, commercial, retail, hotel and leisure facilities built around a 10-acre park.  This investment amounts to approximately €22 million. Jurys Inn Chelsea will have 172 bedrooms; is planned to open in Spring 2004; and will be located in a strategic location between central London and Heathrow Airport.  This development will be undertaken by St. George plc.


Concluding, Pat McCann said: “It has been a very active few months for the Group. Jurys Inn Croydon opened in February and is trading very well. Work on our Jurys Inn Newcastle is going very well, and plans for our Jurys Boston Hotel are also on schedule for a planned opening in early 2004. This focused development activity is central to our strategy to realise the full potential of our brands, our hotel development expertise and management capabilities. We will continue to seek out further development opportunities in prime city centre locations, while at the same time maximising revenues in all our existing properties.”

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