Precinct Investments has withdrawn its 1.1bn euro (£751m) bid for Irish hotel group Jurys Doyle, after recent share deals took the Jurys share price to 18 euro per share– more than the bid value of 17.50 euro.

The company remains up for sale, with several parties considering making an offer including property tycoon Derek Quinlan, hotelier Patrick Kelly and developer Sean Dunne, who was recently ordered by the Irish Takeover Panel to reduce his 18.2 per cent stake in Jurys Doyle to below 15 per cent.

Simon and David Reuben’s Aldersgate Investments – which backed Precinct’s bid – is also believed to be interested.

In its interim results for the six months ending 30 June 2005, Jurys Doyle reported an 8 per cent increase in pre-tax profits to 23.7m euro (£16m) on turnover of 151m euro (£102.2m), compared with the same period in 2004.

The group will open the Jurys Inn Nottingham on 16 September.