A number of international hotel chains - including Swiss group Kempinski and the Spanish chains Sol-Melia and NH Hotels - are believed to be running the rule over the Jurys Doyle hotels.
With a deadline approaching on Monday for tenders for the group's properties at Ballsbridge, Dublin, the Takeover Panel extended by a fortnight to July 29th a separate deadline for a firm offer for the entire chain from the Precinct consortium.
According to senior business sources not linked to the Jurys Doyle group, the hotel chains that have taken a look at the Irish group include Kempinski of Geneva, which has 45 hotels worldwide. They also mentioned Sol-Melia, which has more than 350 hotels in 30 countries, and NH Hotels, which has more than 240 hotels.
The US-owned Marriott group, which will operate the Shelbourne Hotel when it reopens, and the Westin group, which has a hotel on Westmoreland Street in Dublin, are also said to be examining the Jurys portfolio.
The sources said these groups were considering possible bids for the chain if the third approach from Precinct, owner of the Gresham chain and backed by billionaire businessmen Simon and David Reuben is rejected by Jurys Doyle. Any other potential bidders for the group would await the outcome of the latest Precinct approach, they said.
Precinct is awaiting the response to its latest approach from the Jurys Doyle board. At €16.50 per share, the approach values the group at €1.04 billion.
Precinct has also dropped the condition of unanimous board support that was attached to its two previous offers in favour of a requirement for a simple majority of the board. Such a condition could isolate the Doyle and Beatty families, owners of 30 per cent of the group and occupy four seats on its board, who do not favour selling the group.
Shares in the Jurys Doyle closed 15 cent stronger at €15.60 on the Dublin market yesterday. In a statement yesterday, the group said the latest approach did not constitute a firm intention to make an offer, was subject to preconditions, and said there could be no certainty that an offer would be made. Precinct responded with a statement saying that it would welcome an opportunity to engage in discussions with the board "to allay any remaining reservations" about its preconditions, which relate to the requirement for a due diligence process and a recommendation from a majority of the board.
"The directors of Precinct look forward to progressing constructive discussions with the board regarding an offer for Jurys Doyle, and, following such discussions, to seeking the permission of the board to commence the confirmatory due diligence exercise necessary for it be in a position to make an offer for Jurys Doyle."
The potential valuation of the Ballsbridge site will become clear following a deadline for tenders which passes on Monday.
