DUBLIN-BASED property investment company Quinlan Private is planning a major international expansion of its Maybourne Hotel Group, which owns the upmarket Claridge's, Berkeley and Connaught hotels in London.
Maybourne's chief executive Stephen Alden has indicated that the hotel group could open up to 20 five-star hotels over the next decade in Europe, Asia and the United States.
"We're planning to open one or two hotels a year every year for the next 10 years," Mr Alden told British trade publication Caterer Hotelkeeper. "We are already looking at New York, Milan, Dubai and Moscow. We'll be taking a very individual approach to each property."
Mr Alden, who joined Maybourne in 2005 when it was acquired by Quinlan Private, added that they would all be "iconic buildings" and that a lot of time had been invested in creating a brand that would have "an instant impact".
It is understood that the first of these hotels will open in 2009. Quinlan Private, which is run by Irish financier Derek Quinlan, is not expected to acquire or build any of these hotels.
Instead, Maybourne is likely to sign long-lease contracts to operate these hotels with the owners of the properties.
Maybourne, which is based in Mayfair in London, is expected to invest several million euro in its expansion programme.
Maybourne Hotel Group is owned by a group of investors advised by Quinlan Private. The three five-star London hotels reported an after-tax profit of just under £8 million off turnover of £94.3 million in the 12 months to the end of June 2007.
Room occupancy that year was 84.9 per cent while the average revenue from each available room was £383. It had accumulated profits of £19.7 million at the end of June 2007.
Last November, Quinlan Private announced plans to spend £250 million extending and refurbishing Claridge's and the Berkeley hotels in London from 2009. It has already spent £70 million on upgrading the Connaught.
Maybourne was previously known as the Savoy Group. Quinlan Private bought it for £750 million in May 2004.
The deal included the luxury Savoy Hotel in London, the Savoy Theatre and Simpson's-in-the-Strand restaurant, all of which were sold in 2005.
Quinlan Private also owns the Jurys Inn hotels in Ireland and Britain and the Marriott UK chain.
