Irish Private Client Group Sells Prestigious Hotel

Contributing Editor

4 April 2006

Quinlan Private, the Dublin-based private client group, has sold the Four Seasons Hotel in Milan for €200 million ($242.9 million). Peter Donnelly one of the three partners that run the group told the Irish press the sale had delivered attractive returns for Quinlan private clients, although it was not clear exactly what the group had initially paid for the Four Seasons. Quinlan Private bought the Savoy Group which included the Berkeley, Claridges, the Connaught and the Savoy together with the Savoy Theatre and Simpson's-in-the-Strand in May 2004 for £750 million. It then sold the Savoy and Simpson's-in-the-Strand to a company backed by Saudi billionaire Prince Alwaleed bin Talal. Quinlan Private, which is run by the group’s founder Derek Quinlan, and his fellow partners Tom Dowd and Mr Donnelly, said recently that it plans to open an office in London. The wealth manager was established in Dublin in 1989 by Mr Quinlan, an ex-tax inspector for the Irish Revenue. It now has additional offices in New York, Shanghai and Prague, and claims to manage real estate assets worth in excess of €5 billion ($6.1 billion).