Budget hotels may not be recession-proof, but Richard O’Sullivan and Seamus McGowan knew a business model that could weather a downturn when they saw it.
The chance of having their own budget hotel chain was enough for the two former Jurys Doyle executives to leave well-paid, pensionable jobs in the public company in 2004 and splash out €22.5 million on the eight Irish hotels in the Travelodge chain. O’Sullivan was financial controller at...
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