Jurys Doyle, the Irish hotel company, has reportedly put its Jurys Inn brand on sale for 1bn euro (£681m).

According to The Daily Telegraph, memorandums are being sent out to around 50 private equity houses and trade buyers over the next few days, “with the aim being to sell within the next three months”.

Jurys Inn has 20 three and four-star hotels in the UK and Ireland with another 10 planned, and any outstanding proceeds from the sale will likely be put back towards its remaining 12 Jurys Doyle-branded hotels.

Merrill Lynch has been hired to handle the process.