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Worldwide hotel expansion for Maybourne
Derek Quinlan, the controlling stakeholder of the Maybourne Hotel Group, has reportedly appointed investment bank Lizard to advise on the worldwide expansion of his hospitality brand.
The luxury portfolio, which includes London’s Claridge’s, Berkeley and Connaught hotels, could be extended to destinations such as New York, Dubai, Paris and Moscow.
Avenues being considered by the property magnate include the injection of investment into Maybourne by outside investors and a £1bn floatation of the company on the stock market.
Maybourne and Lazard have declined to comment on the rumours.
Maybourne was previously known as the Savoy Group until January 2005, when it was acquired by Dublin-based property investment company Quinlan Private for £750m.
Quinlan Private then procured a portfolio of 47 Marriott hotels in April 2007 from the Royal Bank of Scotland (RBS) for £1.1bn.
Just two months later the company bought the Jurys Inn hotel chain, before swiftly selling a 50 per cent stake in the business to Middle Eastern firm Oman Investment Fund (OIF), a division of the Sultanate of Oman.
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