A group of Irish investors, headed by property adviser Quinlan Private, have bought the London-based Savoy Group of hotels for £750m.

The group consists of four famous hotels – Claridge’s, The Berkeley, The Connaught and The Savoy – and the traditional English restaurant, Simpson’s-in-the-Strand.

The group’s owner, Blackstone and Colony, had earlier announced that it would only dispose of Claridge’s – also home to chef Gordon Ramsay’s famous flagship restaurant.

Quinlan Private was founded in 1989 and was one of Ireland’s first independent private client advisory groups.

The company is owned by Derek Quinlan, a former Dublin tax inspector.

The purchase of Savoy is the latest in a string of deals that has seen Quinlan Private expand its assets to include commercial office blocks, shopping centres and hotels across Europe and North America.

It recently acquired the Four Seasons Hotels in Milan, Budapest and Prague.

Derek Quinlan said: “We are delighted to announce an agreement to acquire The Savoy Group. Our investment will respect the iconic status of the group.

“The purchase presents us with a unique opportunity to extend our hotel portfolio and use our experience and resources to enhance the international standing of the hotels comprising The Savoy Group,” he said.

Quinlan Private will retain the group’s current management team and no re-branding will be performed, as each hotel will retain its distinct identity.

Blackstone originally paid £520m for the group in 1998, before investing £60m in refurbishing the properties.

Work included redesigning of the renowned Savoy Grill, the introduction of Gordon Ramsay’s restaurant and increasing the number of rooms across the group by 25 per cent to 817. Details: www.savoy-group.co.uk