Hotelier ready to float Bonnington :: Sunday Times

Hotelier ready to float Bonnington :: Sunday Times

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JIM MCGETTIGAN, the veteran Donegal hotelier, is planning to bring his latest hotel and property venture onto the London stock market at the age of 69. McGettigan, who started his career as a first-class waiter on the QE1, has told investors that he plans to bring Bonnington Group onto the market ‘in due course’.

This weekend McGettigan was in Dubai, where his interests include Bonnington Tower, a 40-storey apartment complex and a five-star hotel at the exclusive Jumeirah Lakes. The apartments at the complex fetch more than $1.4m (€1.2m). He was not available for comment.

Last year, McGettigan trumped retail giants Tesco among others to purchase the art deco former Gillette headquarters in west London.

He paid £32.5m for the property and is expected to lodge a planning application shortly for a four-star hotel, conference facilities, serviced apartments, a themed leisure area and office block. The group also operates an estate agency business, and has a total of 10 hotels.

According to company promotional material, Bonnington has assets of £250m, suggesting that McGettigan will be looking to float on the Alternative Investment Market. The flagship hotel in the group is the Bonnington in London which has almost 250 rooms.

McGettigan started his business empire when he returned from London with wife and co-director Patsy in 1964 and purchased a pub on Dublin’s Queen Street. The company is also sizing up opportunities in China, Bulgaria and Malaysia.

Source: Times Online