HEARTBREAK HOTELS

Hoteliers are seething at the impact banks are having on rates and competition in the hotel sector. Four-star hotels that are controlled by banks are offering overnight stays and dinner for as little as €50 a head. Few see an end in sight

Susan Mitchell

Deputy Editor and Health Editor @susmitchellsbp
27th February, 2010

In February last year, Tulfarris House & Golf Resort, a 200-acre development in Co Wicklow backed by property developer Paddy Kelly and his family, went into receivership. The same month, AIB appointed a receiver to the €50million Blarney Golf and Hotel Resort in Co Cork.

Tulfarris was re-opened by the receiver last April, and Hotel Asset Management Services (HAMS) was appointed to run the hotel. The four-star hotel in Blarney remains open for business....

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