Jurys last year received planning permission from Dublin city council for the additional beds but industry sources say it now believes the capital’s hotel market, which already has 15,000 bedrooms, cannot sustain such a development.
The company now plans to look at alternative uses for the site, including serviced apartments and possibly offices. Given that new office space is plentiful in Dublin, industry sources expect the group to develop 20 or more luxury apartments on the site.
The Four Seasons hotel in Ballsbridge last month announced plans to convert the top floor of its hotel into expensive apartments, to be sold to individuals. The group runs similar projects in America.
It is not clear if Jurys will sell the site at the Burlington to a developer or enter into a joint venture to build the apartments.
Jurys last week said it was seeking 100 voluntary redundancies from its 440 staff at the Burlington in an attempt to improve its operating margins, which lag behind those of its other Irish properties. The Burlington is the largest hotel in the Jurys stable.