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Jurys Hotel Group Acquires Doyle Hotel Group; 
Will Create Ireland's Largest Hotel Chain
Major Presence in Washington DC Market
 
WASHINGTON, April 20, 1999 -  The acquisition of the Doyle Hotel Group by Jurys Hotel Group has been agreed today for a total consideration of $255 million in cash and stock, plus the assumption of $81 million debt. The enlarged company, to be named Jurys Doyle Hotel Group, will be Ireland's largest hotel chain by far and will have, among other things, a presence on two continents, in three capital cities -- Dublin, London and Washington. The Doyle family will hold a 25% equity interest in the new, enlarged company.

The combined operations of the new group will feature 19 hotels and 9 inns with over 5,200 bedrooms in Ireland, the U.K. and the United States. The group's 3,500 employees will generate total revenues of approximately $190 million annually.

The company's U.S. presence is in the Washington, DC market where it owns and operates three hotel properties, the Washington Courtyard, the Normandy Inn and the Doyle Washington Hotel, its most recent $45 million flagship addition to the group which was officially opened last month.

Mr. Peter Hilary, Regional Vice President in the United States of the Doyle Hotel Group, said, "The successful conclusion of this important deal will enable the combined group to take a major step forward and create a powerful Irish-headquartered hotel group with sufficient scale to compete internationally. It is our hope that the enlarged group will be in a position to grow its U.S. operations in the years to come."

Mrs. Bernie Gallagher, Chief Executive Officer of the Doyle Hotel Group, said "The Doyle family is delighted that these two great hotel groups have come together to form an Irish-based operation of international scope. The Jurys Doyle Hotel Group will combine the proven skills of the Jurys' team with the expertise of the Doyle family and staff, which made the Doyle Hotel Group a highly-successful and prestigious operation in Ireland and overseas. As significant shareholders in the enlarged entity, the Doyle family look forward to making a positive contribution to the future success of the new group."

Background on The Doyle Hotel Group

The Doyle Hotel Group is Ireland's largest privately owned hotel company. It has seven hotels in Dublin comprising a total of almost 1,400 bedrooms together with conference and banqueting facilities.  The 5-star Westbury Hotel and Berkeley Court Hotel are two of the city's leading hotels.  The 4-star Burlington Hotel is Ireland's largest hotel property with over 500 bedrooms and a convention center accommodating 1,200 delegates.  The group has four 3-star hotels in Dublin -- the Doyle Skylon Hotel, the Doyle Green Isle Hotel, the Doyle Montrose Hotel and the Doyle Tara Hotel -- all located on main throughfares into the city.

In London, the 4-star Clifton Ford Hotel is located in the West End near the junction of Bond Street and Oxford Street. The Clifton Ford has 186 bedrooms. In Washington, D.C. the company operates three hotels. The newly-opened Doyle Washington Hotel is close to the 3-star Washington Courtyard which is located on Connecticut Avenue. The 3-star Doyle Normandy Inn is also located nearby. The three Washington hotels have 536 bedrooms in total.
 

The Doyle Hotel Group was founded way back in 1964 by Pascal Vincent Doyle - fondly known as 'PV' by all who know him. 

'PV' was a man of vision and recognised that, as tourism became more available and more affordable, Dublin was going to need new 'medium' grade hotels. 

The Doyle Montrose opened it's doors in 1964 and became an instant success - serving local business during the week and providing affordable, quality accommodation for guests coming into Dublin at the weekend. 

The same formula was applied to the Doyle Green Isle serving west Dublin. The Doyle Skylon serving north Dublin and the International Airport. 

The Doyle Tara Hotel followed in south Dublin serving the Bay area. Tourism was fast becoming recognised as one of Irelands leading exchange earners and in the early '70's, demand for conferences began to grow. 

The Doyle Burlington was developed in 1972 and was then and still is Ireland's largest and most complete hotel. 550 large rooms including an Executive Club, conference for up to 1,200 delegates, one of Dublinís most popular bars and Annabels, the city's premiere night club. 

The Doyle Burlington is also home to the renowned Doyle Irish Cabaret Show which entertains well over 60,000 visitors each year. 

In 1977 'PV' purchased the then Botanical Gardens from Trinity College and developed the 5 star Doyle Berkeley Court Hotel. 

The Doyle Berkeley Court is still the place that many people aspire to and features the famous Penthouse Suite, 7,500 square feet of luxury overlooking Dublin. 

The 5 star Doyle Westbury was developed in 1980 and is Dublin's leading hotel. Located just off Grafton Street, adjacent to St. Stephen's Green, there isn't a better hotel location in town. 

Not content with looking after people here in Ireland, 'PV' set his sights on oversees markets and The Doyle Clifton Ford, in London was acquired in 1984. 

Nestled in historic Marylebone village just off Oxford St. and near Harley Street, the hotel is popular with all types of visitors and all types of nationalities. 

North America was next on the list and there are two Doyle Hotels in Washington DC with a third now being redeveloped and scheduled to open in mid 1988. 

All three hotels are located on Connecticut Avenue, close to just about everything in America's capital city. 

Despite all this activity 'PV' also made time to become involved in actively promoting Ireland as a tourist and conferences destination. He was on the National Council of the Irish Hotels Federation. He served as a Director and subsequently as Chairman of Bord Failte, the Irish Tourism Board. 

He also got involved in community work and served with many charitable institutions. 

Truly a man ahead of his time, 'PV' died in 1988 after a brief illness. He is fondly remembered by his family, friends and all who knew him as an outstanding business man who pioneered the development of the hotel industry in Ireland.

Background on Jurys Hotel Group

Jurys Hotel Group plc, a public company listed on the Irish and London Stock Exchanges, is an international hotel operator headquartered in Dublin. It has eight hotels and nine inns with 3,125 bedrooms in twelve cities in Ireland and the U.K.  In Ireland, the group has hotels in Dublin, Cork, Limerick and Waterford, and in the U.K., it has hotels in London, Bristol, Glasgow, and Cardiff.  It has successfully developed and branded a chain of three star hotels, Jurys Inns.  In Ireland, the inns are located in Dublin, Galway, Cork, Limerick and Belfast.  In Britain, the inns are located in Edinburgh and London.

###
 
Contact:
David O'Sullivan 
of St. Vincent, Milone, O'Sullivan
212-921-1414
for the Doyle Hotel Group
 --
 
Also See: Irish Referendum Good for Tourism, Travel Weekly Reports / June 1998

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