Four-star hotel is taken over by bank

A multimillion euro four-star hotel in Co Kerry has become the latest hotel to fall victim to tough economic circumstances.

Ian Kehoe - avatar

Ian Kehoe

5th July, 2008

A multimillion euro four-star hotel in Co Kerry has become the latest hotel to fall victim to tough economic circumstances.

Bank of Ireland has taken control of the Watermarque Boutique Hotel and Spa in Cahersiveen, Co Kerry, in an effort to secure its debts. The hotel only opened for business in recent months.

The bank has installed Tom Kavanagh, a partner with Dublin accountancy firm Kavanagh Fennell, as receiver to the business. It is expected...

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