Sunday 18 March 2018

John Brennan


DOES John Brennan rue the day he allowed himself to be sweet-talked back into hotel management? The Jurys Inn boss is immersed in refinancing the troubled hotel group.

The son of the general manager of PV Doyle's hotels, Brennan and his family even lived in the Burlington and Berkley Court from time to time and he worked in the hotels in summer holidays.

He spent 23 years with the Four Seasons group, working in Britain, the US and Asia.

He returned to Ireland to open the Four Seasons hotel in Dublin in 2000. Costing some €70m and overrunning in budget by €20m, it was backed by wealthy investors led by Derek Quinlan.

Brennan went on to work for Quinlan Private (now Avestus) in 2007 and was responsible for the group's hotel portfolio, including part of the Maybourne group comprised of the Savoy, Claridges, Connaught and Berkeley hotels and later a stake in the €1.3bn Marriott chain.

Quinlan Private led a €1.17bn takeover of Jurys Inn and Brennan was installed initially as interim CEO there in 2008, but he was then asked to take the job as a full-time gig. Under his lead Jurys opened seven new hotels and acquired €75m in new capital to expand and upgrade. He is currently focused on refinancing the business's balance sheet's €750m debt. Possibilities are believed to include a debt for equity swap, some debt write-down and a €200m investment from Mark McGoldrick's Mount Kellett Capital.

Sunday Indo Business

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