The Oman Investment Fund and Quinlan Private, the investment firm, have backed a £60m capital raising at Jury's Inn, the mid-market hotel chain.

The two investors have each put £15m into the hotel group with Allied Irish Banks and Anglo Irish putting in a further £30m of debt between them.

The funds will be used to drive Jury's growth in the UK and help it to establish itself in continental Europe. The group plans to open its first hotel on the continent in Prague in September.

Sunday Telegraph