As the three remaining hotels were in a very poor state of repair, one of the investors, Paddy McKillen, immediately set out on a plan to completely refurbish the properties, beginning with The Connaught.

In a controversial move, NAMA sold the loans which were among the bank's best to the UK's Barclay brothers for their full par value plus all interest owed.

[citation needed] The Barclay brothers amassed shares from original shareholders in the Maybourne Hotel group which McKillen claimed was illegal.

McKillen lost every case in the marathon legal action but effectively wore down the Barclay brothers and their interest in the company was successfully transferred to the Qatari royal family.

[3] In December 2019, Maybourne acquired the Montage Hotel in Beverly Hills, California,[6] and said the acquisition was part of a global expansion strategy.

It was reopened totally restored including a modern wing with 121 rooms, an Aman Spa, an underground swimming pool and a restaurant operated by 3 star Michelin chef, Helene Darroze.

The chef Jean George Vongerichten runs the hotel's all-day dining restaurant and also the recently opened Connaught Grill.

McKillen with the architect Michael Blair won a major planning permission to excavate a five-level basement under the hotel by hand.