The Pack asked for facts; I shall endeavour to deliver!
Quinlan and his ultra-high net worth backers own some of these gems.
In 2004, they spent €750 million on the Savoy Hotel Group, he eventually flogged the Savoy and Simpson’s for €230 million, leaving Quinlan in control of the Berkeley, Claridge’s and the Connaught. He later spent £250 million renovating and extending these hotels.
In 2007, he spent £1.16 billion on buying the Jurys Inn chain (200 budget hotels).
Like has already been mentioned, his group have also spent £1 billion on the Citigroup HQ in London.
He’s also spent another €400 million acquiring retail/office space in Berlin, Cologne, Frankfurt and Poland.
Spent €450 million on a hotel/leisure centre on Lake Balaton in Hungary.
€190 million on the Eircom tower in Heuston.
Overall, his group supposedly has €11 billion worth of property under ownership.
If you ask me, the man is a speculator, a mere flipper. Nothing is bought as an investment, it’s bought with the intention of flipping it on for a higher price. Now that his prime markets have tanked, either the banks are going to be foreclosing on his properties, or his “ultra-high net worth” clients will get wiped out.